Debt
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 as a fall in oil prices stifled Angola’s access to US dollars
New Jamaican law could end Caribbean’s ‘colonial era’
Granting the Bank of Jamaica operational independence to pursue an inflation target could transform central banking in the Caribbean
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
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 as global debt reaches fresh highs
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
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 Federico Sturzenegger with a finance minister with close ties to the president sends a confused signal about central bank 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 plan as government suspends debt payments to external creditors
Have central banks created a ‘debt trap’? No, but ...
Tougher regulation has helped ensure extraordinary monetary policy has not caused a 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
The country has completed a third debt restructuring in a decade, but IMF research says fiscal consolidation is needed to put debt on a “clear downward trajectory”
IMF releases world’s most comprehensive debt database
Data covers 190 countries and a wide range of instruments; Kenneth Rogoff calls the new database “really stunning”
HKMA rolls out new initiatives to lure bond issuance
The three-year pilot promises to fund half of eligible bond issuance expense, up to a maximum of HK$2.5 million
Rising global debt puts pressure on emerging markets, says Mminele
Sarb deputy notes a strengthening dollar puts emerging markets with large dollar liabilities at risk
Oil exporters present higher risk of default, researcher says
Researcher says 27 out of 35 oil-exporting countries defaulted on their debt between 1979 and 2010
Argentina’s central bank makes further emergency rate hike as currency falls
Bank makes second emergency rate hike in less than 24 hours