Sovereign debt
Central African Republic makes cryptocurrency legal tender
War-torn state is second country to give crypto official status, after El Salvador
Reserve managers stick to asset diversification
Higher yields not prompting central banks to abandon investments in less conventional asset classes
São Tomé president rejects firing of governor
Prime minister moved to replace Américo Barros after governor contested party leadership
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
RBI extends Sri Lanka swap line
Island nation defaulted amid debt, currency and balance of payment crises
PBoC on hold as Fed signals steeper rate rises
Policy-makers face worsening pandemic, rising inflation and tighter global financial conditions
Honduran governor asks for 50% salary cut
Santos’s request comes as president calls for spending cuts amid fiscal crisis
São Tomé governor replaced
Central bank chief had challenged prime minister for party leadership
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Bank of Ghana orders 250bp hike
Central bank moves meeting a week earlier to combat high inflation and a weak currency
Putin nominates Nabiullina for third term as she announces emergency QE
Bank of Russia to buy unspecified amount of sovereign bonds as governor pledges control of inflation
Kuwait’s government names new central bank governor
Basel Al-Haroun will begin five-year term on April 1
Russia likely to default on sovereign debt
Putin and finance minister say country may make payments in rubles
Sudan floats currency
Decision follows adoption of single unified exchange rate
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Bank of Canada governor says rate increase ‘was first step’
Macklem says he expects inflation to fall in second half and expectations remain anchored
IMF and Argentina reach preliminary agreement on new programme
Argentina must implement new monetary policy framework as part of $45 billion aid package
Rethinking sovereign risk
‘Risk-free’ assets now include the possibility of complete confiscation with no recourse
BIS targets green bond growth with launch of Asian fund
“We expect a fast-growing market for green bonds,” says BIS banking head Peter Zöllner
Eurozone inflation may hit target in medium term, says Lane
ECB chief economist says eurozone may face fundamentally changed inflation dynamics
Honduran Congress clears way for SDR loan
Declaration of “emergency” will allow government to access $335 million held at central bank
Sovereign bond markets test ECB’s QE withdrawal plans
Investors see “huge risks” of turmoil in peripheral eurozone debt markets
US Treasury opposes ending IMF surcharges
Biden administration rejects initiative championed by Democratic progressives
Has the IMF found a way forward for Argentina?
Withdrawing monetary financing would put pressure on government budget, analysts warn