Debt
Book notes: American default, by Sebastian Edwards
Edwards’ book is fascinating, well written, relating one of US’s forgotten chapters of history
Ugandan governor says central bank not ‘obliged’ to bail out banks
Bailouts could encourage mismanagement, he says
Central bank financing spells trouble for Guyana – IMF
Fund warns central bank financing of government could create problems for monetary policy
IMF aims at major reforms of Malawi’s central bank
Aid aims to help central bank move to interest-rate-based framework and inflation targeting
Zimbabwe clears debt with IMF but hurdles to financing remain
IMF looks to extend debt deadline for Somalia and Sudan
Bank of Thailand: housing market oversupply needs monitoring
Oversupply is pushing down prices, but developers continue to rack up debt
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
National Bank of Angola settles $426 million debt with Namibian counterpart
Failed currency agreement resulted in huge accumulation of debt
New Jamaican law could end Caribbean’s ‘colonial era’
Bank of Jamaica operational independence could transform region
Bank of Jamaica’s Wynter on the path to inflation targeting
Brian Wynter speaks about revamping Jamaica’s policy toolkits
PBoC cuts RRR amid growing instability
The move will release $108 billion amid concerns on the slowing economy and trade disputes
Employer-employee loans can cut credit risk - Minneapolis Fed article
Research looks at Minnesota scheme
BIS sees ‘narrow’ path to safety as global risks build
BIS softens message on tighter monetary policy, but calls for concerted action
Issuing “foreign-law” debt can cut costs in times of crisis – ECB paper
Eurozone countries’ bonds issued abroad showed major premiums during debt crisis, researchers say
BoE’s chief economist joins minority in calling for rate rise
Monetary policy committee lowers threshold for reducing debt holdings
Fed paper questions value of debt as crisis indicator
Asset prices and current account balance more important, author finds
Argentina falters at ‘historic’ moment for BCRA
Replacing governor with finance minister with close ties to president sends confused signal on independence
IMF report says Mauritius central bank needs clearer resolution powers
Current framework restricts regulator from acting in a timely manner – IMF staff
Book notes: Edge of chaos, by Dambisa Moyo
John Chown applauds Moyo’s analysis of how the current democratic framework is failing
Barbados calls for help from IMF as economic situation worsens
Fund to provide technical assistance with new economic plans
Have central banks created a ‘debt trap’? No, but ...
Tougher regulation has helped ensure extraordinary monetary policy has not caused dangerous rise in private debt
Lowe says RBA is closely monitoring China’s shadow banks
Interconnections mean trouble in Chinese markets would likely spill into Australia, governor says
Belize must act to escape cycle of defaults – IMF staff
Country has completed third debt restructuring in a decade
IMF releases world’s most comprehensive debt database
Data covers 190 countries and a wide range of instruments