Imports
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
Haiti receives $105 million emergency loan
IMF urges central bank to cut back monetary financing
Papua New Guinea names new acting governor
Prime minister says previous acting head had served past legal limit for interim officials
Pakistan raises rates 100bp amid reserves crisis
Reserves now only enough to cover about three weeks of imports
Nepal central bank prohibits overseas investments
Move follows import restrictions in 2022
Russia and Iran discuss joint gold-backed stablecoin
Digital currency would be used for foreign trade settlements in special economic zone
Argentina activates Chinese swap lines
Central bank says move will boost reserves but observer says it is unlikely to strengthen peso
Papua New Guinea flights grounded amid FX dispute
Central bank accuses fuel supply firm of failing to repatriate foreign exchange earnings
Rates round-up: Turkey pauses rate cuts
Egypt hikes main rate 300bp after IMF deal; Indonesia decelerates tightening; and more
Ghana hikes rates again as inflation passes 40%
Governor says country faces “huge financing gap” as government uses central bank credit
Rates round-up: Pakistan adds 100bp to main rate
Central banks raise rates in Kenya, Congo and Iceland
IMF recommends using reserves ‘prudently’ to offset dollar strength
Floating currencies, IMF precautionary lines and reactivation of Fed swap lines among possible measures
IMF approves ‘food shock window’
Temporary measure will help countries deal with food insecurity
IMF approves $3.8 billion for Argentina
Country has met most key targets, but 2022 inflation now projected to top 100%
Four more African central banks raise rates
Ghana raises policy rate to highest level since 2017, plus hikes in Uganda, Sierra Leone and Tunisia
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions raise questions about the US dollar’s central role
Is money growth really the main inflation culprit?
A closer look at inflation in the eurozone and Switzerland
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
Bank of Ghana denies rationing FX
Bloomberg made claim in June article citing swelling fuel import bills
Tanzania’s current account deficit more than doubles YoY
Deficit reached $3.7 billion in May, as country turns to IMF for support
Bangladesh Bank orders second rate hike
Central bank publishes monetary policy for 2022–23
IMF approves $4 billion payment for Argentina
Country passes first IMF review, but reserves have declined in recent weeks
China loans Pakistan central bank $2.3 billion
Ailing country in talks with IMF as foreign exchange shortage crimps fuel purchases