Sovereign debt
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
IMF demands Ecuador end monetary financing
Central bank will need to cover liabilities vis-à-vis banks with international reserves
Triple reserve managers safeguard Singapore’s stability – Ravi Menon
Menon explains the separate roles of the three institutions managing national financial resources
Bank of Mexico stresses risks stemming from state-owned oil company
Pemex provides 20% of Mexico’s fiscal revenues, but is grappling with high debt and falling output
Zimbabwe borrows $985 million from pan-African lenders
International reserves cover only four weeks of imports amid limited access to hard currency
Kuroda warns of more QE if yen continues to strengthen
But Bank of Japan continues to cut purchases of Japanese government bonds
Improved political environment lends support to Lebanese pound
As new government is formed, investors become more willing to sell dollars and buy pound
Colombia purchases $1 billion from government
Operation aims to support plan to enhance international reserves portfolio
Central bank gold purchases soar to highest level since 1971
Russia, Turkey and Kazakhstan accumulated the most gold in 2018
Asset manager of the year: State Street Global Advisors
The US financial group used its global presence, and equity and fixed income expertise, to expand its central bank client base and assets under management in 2018
Central Bank of Kuwait overhauls core banking system
System provided by Tata automates key central bank operations
Blanchard calls for rethink on costs of debt
Fiscal cost of public debt may be zero, macroeconomist argues, but that does not make debt costless
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
ECB has made ‘little use of macro-pru powers’, senior official says
Eurozone authorities lack powers to deal with diffuse sovereign risk or shadow banks – ECB official
Lack of monetary autonomy ‘central’ to eurozone debt crisis – researchers say
Spain would have been ‘immune’ to rollover debt crisis outside eurozone – Minneapolis Fed paper
Podcast: Preventative measures
Many central banks currently lack a key power that could help them deal with crises, argues Yale University’s Andrew Metrick
The euro: a troubled third decade?
Italy’s pact-busting budget highlights ongoing eurozone frailties
Flug defends Bank of Israel’s role as government economic adviser
Departing governor clashed with executive over public spending priorities
IMF boosts support for Argentina to $56.3bn
Programme aims for ambitious fiscal goals in an electoral year
ECB’s normalisation could spell trouble for Italy’s bond market
Rome’s budget row with Brussels escalates just as QE is about to halt
ECB paper presents new sovereign stress model
New method builds on earlier CISS model to measure systemic stress in eurozone
Debt poses a threat to African monetary policy – BIS paper
Central bankers could use their influence to encourage government prudence, authors say
Reserves preservation key in Tunisia amid growing challenges – El Abassi
Governor of Central Bank of Tunisia stresses the importance of sound policies as the currency weakens and twin deficits grow