Debt
IMF backs $3.1 billion loan for Egypt
Conditions include locking in the floating exchange rate
Capturing moral hazard: the Scarlet Pimpernel of finance
Moral hazard exists in many contexts, but can be ‘damned elusive’ to capture, writes Jesper Berg
Paraguayan ex-governor says central bank loans are illegal
Congress votes for interest-free advances amid dispute among ruling party’s factions
IMF approves long-term resilience loan for Rwanda
Fund urges “more decisive monetary tightening”
IMF and Ghana reach initial agreement on $3 billion loan
Stricken country preparing domestic debt restructuring
Book notes: A monetary and fiscal history of the United States, 1961–2021, by Alan Blinder
The book’s breakthrough is its infusion of the history of fiscal policy into a theoretical framework traditionally focused on monetary instruments. It is a splendid and thrilling read
Malpass says debt relief critical for poor countries
World Bank president says world risks “disorderly default process”
São Tomé appoints new central bank governor
New government replaces central bank administrative council
BIS analysis finds ‘huge’ debts hidden in FX derivatives
Economists say banks and non-banks have major exposures hidden off balance sheet
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
Ghana hikes rates again as inflation passes 40%
Governor says country faces “huge financing gap” as government uses central bank credit
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
Carstens wins major Spanish economics prize
King of Spain award praises BIS president’s work in Mexico and globally
Costa Rica receives first loan under IMF’s green programme
Country is “excellent candidate” for Resilience and Sustainability Facility, says IMF official
Argentine central bank debt poses major risks, analyst says
Moody’s analyst says central bank faces macroeconomic crisis as short-term debt rises
Chinese regulators throw lifeline to struggling developers
Hong Kong-listed mainland property stocks surge as banks told to offer loan extensions
Central bank assets enjoy ‘99%’ immunity
Why central bank assets possess legal immunity – but not from sanctions
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
Armenia raises policy rate by 50bp
Fleeing Russians are helping to drive inflation, central bank says
Egypt raises policy rate and floats currency
Central bank decisions come as IMF signs preliminary deal for further $3 billion loan
Nigeria floats conversion of central bank loans to debt amid growing crisis
Government official says central bank has loaned government $46 billion as bond yields rise
Suriname central bank wins lawsuit over corrupt contract
Belgian court rules former governor could not sign deal with firm
Christopher Sims on modelling the inflation surge
Unprecedented series of shocks creates major challenges for central bank forecasters, the Nobel Prize-winning economist tells Daniel Hinge
Reshuffle heralds new era of Chinese central banking
Policy room for the next PBoC governor looks limited, as loyalists win out over technocrats for top economic posts