Sovereign debt
Ex-BCRA governor: Argentina was not ready for volatility
But tax exemption on exports and US support have bought Milei time until October poll, says Redrado
Aging population may improve fiscal sustainability – paper
More old people means more money to invest in assets like government bonds, researchers point out
Britain’s ‘knife-edged’ economy is dividing BoE rate-setters
Chief economist and deputy governor for monetary policy both outvoted on MPC for first time since 2007
National debt will push up US interest rates – Dallas Fed research
Long-term rates could rise more than 1.5 percentage points over next 30 years, say authors
BoE’s Benjamin on market resilience, non-bank liquidity and the modern financial system
The UK central bank’s executive director for financial stability strategy and risk speaks about leverage in the gilt repo market, minimum haircuts and central clearing, and securing liquidity to where it’s needed
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Sovereign bond yields affected by weather disasters – BIS paper
Countries with higher per capita carbon emissions also face greater borrowing costs
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
Trends in reserve management 2025: survey results
Insights on strategies in anticipation of tariffs, interest rate divergence and geopolitical risk, FX diversification and de-dollarisation, as well as bitcoin in reserves, FX interventions and gold
IMF director calls for transparency in sovereign debt
Georgieva says opaque financing can contribute to debt crises in emerging economies
German and Spanish governors criticise US policies
Nagel defends Fed independence, while Escrivá cautions against excessive deregulation
IMF agrees $20 billion loan deal with Argentina
Fund disburses $12 billion immediately as BCRA moves currency regime to managed float
Tunisia’s president ‘gambling’ with central bank
Analysts say ruler’s attempts to erode bank’s independence create serious risks for economy
IMF: $44bn loan deal to Argentina fell short of expectations
Monetary policy’s effects limited as central bank suffered heavy cashflow losses, evaluation finds
The UK is not suffering another Truss shock
The increase in gilt yields is a long way from the turmoil of 2022, writes Jagjit Chadha. But it does highlight flaws in the use of fiscal rules
Unfunded fiscal spending leads to lower real rates – research
Deglobalisation could limit ability of monetary policy to control inflation, says author
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Required reading amid current high sovereign debt, global tensions and the urgent need for climate finance
BIS highlights market ‘uneasiness’ over bond issuance
Claudio Borio says fiscal outlook worldwide is “acutely worrying”
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
Working group minutes: reserve managers chafe at constraints
Officials at several central banks say limited investment universe restricts room for manoeuvre
US debt sustainability and central bank balance sheet dynamics
Higher interest rates are putting pressure on central bank profits and may increase supply of government debt, especially during quantitative tightening. Will central banks be required to issue bonds?
Mamo Mihretu on the radical reform of central banking in Ethiopia
Ethiopian governor speaks about simultaneous monetary policy and exchange rate reform, opening the country’s financial system and a fundamental reset for Africa’s second most populous economy
Governors weigh macroeconomic risks at G30 event
Officials from Netherlands, South Africa, BIS and more consider debt, inflation and climate change
IMF cuts fees amid high rates and record borrowing
Fund judges its capital to be strong enough to allow more generous approach