Fiscal policy
Eurozone could improve fiscal pact – ECB paper
Reformed framework should combine expenditure growth rule with “debt anchor”, researchers say
RBI extends Sri Lanka swap line
Island nation defaulted amid debt, currency and balance of payment crises
BCB union suspends strike for two weeks
Brazil central bank workers reject 5% pay offer and will continue some labour protests
Honduran governor asks for 50% salary cut
Santos’s request comes as president calls for spending cuts amid fiscal crisis
Presidential ally obtained funds from Zimbabwe central bank
RBZ exchanged Treasury bills at inflated rate as part of giveaway, investigation finds
Brazilian central bank strike escalates
Staff now out indefinitely, interfering with Pix and economic statistics
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Bank of Ghana orders 250bp hike
Central bank moves meeting a week earlier to combat high inflation and a weak currency
Kuwait’s government names new central bank governor
Basel Al-Haroun will begin five-year term on April 1
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
Central banks can lean against fiscal dominance – BoC paper
Authors find monetary policy works better when conditional on fiscal policy
IMF and Argentina reach preliminary agreement on new programme
Argentina must implement new monetary policy framework as part of $45 billion aid package
Outsider arts: how Russia might adapt to sanctions
The history of the USSR and actions by other sanctioned countries may give clues to Russia’s next moves
IMF and World Bank pledge Ukraine aid
Fund considering emergency loan and World Bank assembling $3 billion package
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs
Rwanda raises benchmark rate 50bp
MPC statement warns of expected spike in inflation in 2022
Honduran Congress clears way for SDR loan
Declaration of “emergency” will allow government to access $335 million held at central bank
Brazil’s Campos Neto: markets show less fear of Lula win
Presidential candidate reported to have embraced central bank independence
Change at the Bundesbank: from Weidmann to Nagel?
Joachim Nagel’s appointment highlights the importance of politics at the apex of German central banking. Veteran central bank watcher Klaus C Engelen looks at the media reaction and asks if Buba/ECB discord is set to continue
Has the IMF found a way forward for Argentina?
Withdrawing monetary financing would put pressure on government budget, analysts warn
Brazilian central bank continues steep tightening cycle
MPC says it aims to slow pace of rate increases but warns fiscal policy is boosting inflation
Indian government directs RBI to issue CBDC
Central bank told to prepare to issue the digital currency in 2022 and 2023
Pakistan passes central bank autonomy law
Senate approval brings country closer to meeting IMF loan requirements