Tag: central bank
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Russian sanctions are tougher than she could have imagined, and it’s going to get worse
It was only on Sunday that I wrote about the drastic escalation on the economic and financial side of the war between Russia and Ukraine. That ... -
IMF warns eNaira could be used for money laundering and terrorist financing – Blueprint Newspapers Limited
The International Monetary Fund (IMF) is warning Nigeria that eNaira could be compromised by fraudsters and used for money laundering and terrorist financing. The International Monetary ... -
Why Nigerians Should Prepare for More Hardship — Obadiah Tohomdet
Obadiah Tohomdet, former Senior Communications Specialist at the World Bank and Managing Director of SIMANS Strategic Communications Ltd, Abuja, spoke with JOSEPH INOKOTONG on a wide ... -
Cryptos could be a “speculative mania”, says economist Eswar Prasad
Discussions with central bankers at a conference a few years ago prompted economist Eswar Prasad to start writing what he planned to be a small volume ... -
Introducing the digital rupee
Precisely, it would be a difficult task for the RBI to issue Digital Rupee. It comes with a host of technological, legal and economic issues that ... -
Lebanon needs more than foreign friends to save itself
It is rare for someone to steal their own bank account. But a robbery this week in Jeb Jannine, in Lebanon’s Beqaa Valley, involved just that. ... -
Biden to appoint Sarah Bloom Raskin as Fed banking regulator
If confirmed by the Senate, Ms. Raskin, a former Fed governor, would become the vice president for central bank oversight, the most influential government overseer of ... -
Pakistan can overcome mounting pressure on external accounts: Baqir – Journal
ISLAMABAD: The Governor of the State Bank of Pakistan (SBP), Dr Reza Baqir, believes the country has the capacity and the financial cushion to overcome growing ... -
Humanitarian warmongers mock US sanctions killing Afghans
With the Taliban in power, Afghanistan and its people are in the midst of a historic global humanitarian catastrophe that may not even have reached its ... -
Economy exceeds expectations despite upheaval
The year 2021 can be seen as another momentous year in the Nigerian financial industry. Recovering from the after-effects and fears of recurring waves of the ... -
Rising energy prices push up inflation
Bangladeshi consumers were hit even harder in November as inflation continued to rise, driven mainly by non-food inflation as the effects of rising diesel and kerosene ... -
former president of the Central Bank of Argentina – CVBJ
Highlights: If he had known the future, he would have bought BTC with central bank reserves, Sandleris said. Sandleris was President of the Central Bank of ... -
“Ponzi scheme” blew up Lebanon’s finances, says UN chief Guterres
Lebanon’s financial collapse was caused by “something akin to a Ponzi scheme,” UN Secretary-General Antonio Guterres said in videotaped comments in a closed-door meeting during his ... -
The IMF lost a bet: why repay them?
This article originally appeared in Spanish on Revista Mugica. Translation by Néstor David Pasteur. WEconomists tend to view neoliberalism as a set of economic policies, the ... -
Passport office works with banks to boost migrants’ international money transfers – The Island
by Sanath Nanayakkare The People’s Bank, the National Savings Bank, the Sampath Bank, the Hatton National Bank and the Commercial Bank of Sri Lanka yesterday opened ... -
bne IntelliNews – National Report on Georgia Dec21
Georgia’s economy remained stable at 6.9% in October, the same level as in September, according to preliminary data released by the statistics office Geostat. For the ... -
RBI’s launch of digital currency will mark major monetary moment
A recent advertisement from an Indian crypto exchange group claimed that Indian citizens have more than ??6 trillion invested in crypto assets. A separate crypto platform ... -
Afghan economy on the brink of collapse as pressure mounts to ease US sanctions
MAZAR-I-SHARIF, Afghanistan – Driving down cratered highways at dawn, Mohammad Rasool knew his 9-year-old daughter was running out of time. She had been battling pneumonia for ... -
The tough mood continues for homebuyers in 2022
By Holden Lewis and Kate Wood | Nerdwallet Let’s get right to the point: the housing market of 2022 looks likely to be a watered-down version ... -
Loss of privacy is the main consumer risk for CBDCs
Fidelity International Managing Director Anne Richards stressed that loss of financial privacy – and, subsequently, even access – is the number one risk for consumers to ... -
IMF staff complete 2021 Article IV mission in Kosovo
End-of-mission press releases include statements from IMF staff teams conveying preliminary findings after a country visit. The views expressed in this statement are those of the ... -
Lower exchange rates: stop spending cuts and not withdraw money from commercial banks
Again, money exchangers give LD154 for $ 1, even if less than 60 days ago they gave LD170 for $ 1. In August of this year, ... -
Amid surging inflation, alarms have sounded over central banks’ focus on climate change and racial justice
Former Treasury Secretary Larry Summers’ criticism that the Federal Reserve and other central banks are focusing too much on “awakened” social issues reflects a growing concern ... -
Crypto assets pose ‘limited’ risks to the stability of the UK financial system – Bitcoin Regulation News
The Bank of England says crypto assets pose “limited” direct risks to the stability of the country’s financial system. “Cryptoasset and associated markets and services continue ... -
International community must ensure immediate delivery of aid and supplies to Afghanistan – Afghanistan
Working with Afghan human rights activists, humanitarian organizations and civil society activists around the world, WILPF urgently calls on the international community to use an effective ... -
Naira continues freefall in official markets, but CBN gets dollar firepower to defend itself before it gets worse Nigeria news
The rise in the price of oil, the success of the Eurobond, as well as the SDR credit of 3.5 billion dollars from the International Monetary ... -
I need a dollar, dollar, a dollar is what I need
Ambrogio Cesa-Bianchi and Fernando Eguren-Martin In March 2020, the Covid-19 (Covid) epidemic shook the world. With economies virtually closed, financial markets were an exception and have ... -
UAE’s economic recovery to accelerate, IMF says
The UAE’s economic recovery is gaining momentum and is expected to accelerate, driven by the country’s “rapid and strong response” to the pandemic and the rapid ... -
Lebanese PM to meet financial adviser Lazard soon on bailout
Lebanese prime minister gives most detailed comments to date on crisis Said to meet Lazard, looking for a “more realistic” plan Lebanon would have the chance ... -
Lebanon faces tough question in IMF bailout offer
(MENAFN- Gulf Times) In its candidacy for IMF support, Lebanon must answer a question it has eluded since the economy imploded two years ago: how should ... -
Foreign creditors urge Lebanon to start debt restructuring talks
View of the Central Bank of Lebanon building in Beirut, Lebanon on April 23, 2020. REUTERS / Mohamed Azakir / File Photo / File Photo LONDON, ... -
Rupee hits nearly 11-month low against US dollar
KARACHI – The dollar rose 0.65% or Rs1.08 and hit an almost 11-month high against the Pakistani rupee in the interbank market on Wednesday. According to ... -
Lebanon struggles to form government as economic crisis rages across country – World Peace Organization
On August 16, following a nationwide fuel shortage caused by the economic crisis that has plagued the country for years, Lebanese President Michel Aoun said steps ... -
High current account deficit is nothing to worry about: Baqir
KARACHI: The high current account deficit for June 2021 came as a surprise to the market and businessmen, however, people need not worry because the exchange ... -
China appears keen to create digital yuan for local use and potential global transactions, report reveals
In April last year, China began testing the virtual yuan, becoming one of the first governments in the world to issue a central bank digital currency ... -
Egypt’s proactive policies shielded economy from coronavirus repercussions: IMF – Economy – Business
Egypt has responded to the coronavirus crisis with timely and prudent fiscal monetary easing that has helped mitigate the health and social repercussions of the pandemic, ... -
Deepening Nigeria’s Payments System | THIS DAY
Donald nwaogu The Central Bank of Nigeria (CBN) recently unveiled its intention to launch its digital currencies before December 2021. With this plan, the CBN joins ... -
Federal Reserve plans to prepare digital currencies report in Q3
CoinDesk reported that U.S. Federal Reserve Chairman Jerome Powell said on Wednesday his agency plans to release a report exploring central bank digital currencies (CBDCs), stablecoins ... -
World Bank, IMF, BIS Push For Central Bank Cryptocurrencies To Improve Cross-Border Payments | Currency News | Financial and business news
G20 Anadolu Agency / Getty images The BIS, IMF and World Bank released a report on central bank digital tokens for the G20. The report suggests ... -
IMF helps countries buy vaccines
The new allocation of so-called Special Drawing Rights would be the largest such expansion of foreign exchange reserves in IMF history. If final approval by the ... -
Bitcoin sells as regulatory concerns resurface
Cryptocurrencies traded lower on Thursday as regulatory concerns resurfaced. Bitcoin has moved below initial support at $ 34,000 and is down around 5% in the past ... -
Sri Lanka tightens currency outflows to tackle growing liquidity shortage, South Asia News
Sri Lanka’s central bank on Sunday tightened controls on foreign currency outflows to tackle the growing cash shortage triggered by the coronavirus pandemic. Foreign exchange reserves ... -
Climate risks call for a green financial system: The Tribune India
Ajay Sagar, financial analyst CLIMATE risk is a major challenge for a country’s financial system, which worries regulators. Investors assess climate risks when making investment decisions. ... -
While Fed in denial, Hawkish Bank of Russia views inflation as “not transient”, warns of possible rate hike, shock and fear
US inflation is almost as hot as in Russia, but the Fed keeps blowing it. By Wolf Richter for WOLF STREET. Consumer price inflation in Russia ... -
Bitcoin and Cryptocurrencies ‘Work Against the Public Good’, According to Global Body of Central Banks
Cryptocurrencies are speculative assets that in many cases allow criminal activity and “work against the public good,” said the Bank for International Settlements (BIS), the global ... -
Gangster Videos Renew Review of Turkey’s Wealth Amnesty Law | Business and Economy News
Istanbul, Turkey – YouTube videos of convicted Turkish mafia boss Sedat Peker accusing government officials of corruption and others have captivated millions of people in recent ... -
Entanglement of tax and non-tax revenue – Journal
Raising non-tax revenue is just as difficult as tax revenue. But then the government has to decide each year how much tax it should collect and ... -
Beer on the banks! The people of this country face a difficult choice
Largely stranded in their dollar deposit accounts since late 2019, when the Lebanese pound collapsed and the banking system collapsed amid widespread political protests, some savers ... -
FirstFT: Today’s best stories | Financial Time
Hello. This article is an on-site version of our FirstFT Asia newsletter. register here to receive the newsletter directly in your inbox every weekday morning We ... -
Is El Salvador bitcoin a cold hug in the United States? | Crypto News
This week, El Salvador became the first country in the world to make Bitcoin legal tender, sparking a wave of speculation about how the smallest country ... -
IMF Executive Board concludes 2021 Article IV consultations with Iceland
Washington, DC: On June 4, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Iceland. Iceland entered the ... -
Governments must act on the growth of cryptocurrencies
When cryptocurrencies fluctuate, they don’t just affect investors’ portfolios – they have widespread effects across the entire market, writes Luther Lie. Over the past few months, ... -
G7 CFOs to release common rules for state-issued digital currencies this year – Bitcoin News
G7 finance ministers and central bank governors met and agreed to work on common principles for state-backed digital currencies and publish their findings this year. They ... -
Digital currencies are the future of Russia, says central bank chief
As the economy evolves online, digital currencies will be the future of financial systems, according to Russia’s central bank governor Elvira Nabiullina. There is a need ... -
CBCG reaction to Predrag Drecun statement
CBCG reaction to Predrag Drecun statement 05/28/2021 In cases where individuals, knowingly or due to a lack of knowledge and skills, place inaccurate information that may ... -
In Gold We Trust Report 2021 – Monetary climate change
SCHAAN, Liechtenstein and VIENNA, May 27, 2021 / PRNewswire / – Enabled May 27, 2021, this year We believe in gold The report was presented at ... -
Bank of Mauritius plans to pilot CBDC in 2021
The Bank of Mauritius is targeting a year-end rollout for the island nation’s central bank digital currency (CBDC) pilot project, the central bank governor said on ... -
Singapore sees patchy recovery after first quarter GDP beats forecast
A view of the Singapore skyline, amid the coronavirus disease (COVID-19) outbreak, in Singapore on July 14, 2020. REUTERS / Edgar Su Singapore’s economy grew more ... -
China is changing the way money is loaned to countries in need
Paola Subacchi is Professor of International Economics at the Queen Mary Global Policy Institute at the University of London and most recently author of “The Cost ... -
Bitcoin Cultural Revolution Awakening – Bitcoin Magazine: Bitcoin News, Articles, Charts and Guides
The COVID-19 pandemic has forever changed the world and life as we know it. The restrictions imposed on society by governments, including the use of masks ... -
Will digital currencies dethrone or cement the US dollar?
As crypto markets continue to gain attention and digital technologies threaten to disrupt the entire financial system, governments and reserve banks are eager to hold on ... -
Rs2trln Stimulus Boosts Pakistan Economy Targeting 6% Growth Target
Dubai: The Pakistani economy is on a solid growth path and has the potential to grow at a much higher rate over the next five years ... -
Reworked Brussels metro map celebrates Irish women
Imagine a journey that starts at Simone Veil station and where you reach your destination at Hannah Arendt station. Along the way, you pass Marie Curie ... -
Financial inclusion, stability of payments, efficiency and implementation of monetary policy touted as benefits of central bank digital currencies
Central bank digital currencies, using an electronic record or a digital token to represent a country’s virtual form of fiat money, could offer a range of ... -
Review of the week – Ukraine strengthens ties with US, World Bank allocates $ 200 million for education reform, inflation slows – UNIAN
During a visit to Kiev, US Secretary of State Anthony Blinken discussed with Ukrainian authorities the progress of reform and pledged aid to counter Russian aggression, ... -
IMF staff complete Article IV mission to Mauritius in 2021
IMF staff complete Article IV mission to Mauritius in 2021 May 7, 2021 End-of-mission press releases include statements from IMF teams that communicate preliminary findings after ... -
Fed QE Amid ‘Everything Mania’: Total Assets Of $ 7.8 Trillion, More Than Doubled In 18 Months Since Repo Market Exploded
QE from crisis to crisis, and even in the absence of a crisis. By Wolf Richter for WOLF STREET. The Fed’s total assets over its balance ... -
Government appoints Rabi Sankar as next RBI deputy governor
Last year, Sankar was appointed President of Indian Financial Technology and Allied Services, a subsidiary of RBI The government appointed the executive director of the RBI, ... -
T Rabi Sankar is appointed deputy governor of the RBI; to succeed BP Kanungo
Reserve Bank of India (RBI) executive director T Rabi Sankar has been appointed the central bank’s fourth deputy governor, sources said. Rabi Sankar is in charge ... -
Investors try to look beyond India’s Covid crisis
Data shows more foreign investment money left India this month than it came in the entire first quarter, as catastrophic spike in deaths leaves the world’s ... -
Analysis: Investors Strive to Look Beyond India’s COVID-19 Crisis
Patients with coronavirus disease (COVID-19) receive treatment inside the emergency department at Holy Family Hospital in New Delhi, India on April 29, 2021. REUTERS / Danish ... -
Global Oil Trade Requires Huge Cash Available in US Dollars
Historically, money was everything people knew about a measure of value, a medium of commercial exchange, and a store of financial value, without any government interference, ... -
Building financial resilience in small island states
Small islands are the most vulnerable to the impacts of climate change. In Mauritius, sea level rise is potentially catastrophic for the island, with 26.2% of ... -
Vietnam’s economic outlook under new leadership
The African Import-Export Bank (Afreximbank), in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making Finance Work for ... -
Ecuadorian parliament approves controversial law now regulating “dollarization”
RIO DE JANEIRO, BRAZIL – The plenary of the National Assembly (Parliament) of Ecuador on Thursday approved with 84 votes in favor of the controversial law ... -
Emirates News Agency – UAE participates in 113th meeting of GCC Financial and Economic Cooperation Committee
ABU DHABI, April 22, 2021 (WAM) – Obaid Humaid Al Tayer, Minister of State for Financial Affairs, yesterday attended the 113th meeting of the GCC Financial ... -
Philippine banks could face ‘systemic solvency distress’: IMF
Banks’ capital adequacy could fall to 11.7% by 2022 in a baseline scenario, to 9.3% in an adverse scenario and to 4.9% in a severe adverse ... -
Why the Nigerian central financial institution won’t loosen its grip on Nairobi
PIUS UTOMI EKPEI / AFP / Getty Photos ABUJA, March 29 (Reuters) – Nigeria retains management of its naira foreign money regardless of calls for for ... -
Need to overhaul the farm finance regime – Journal
In Pakistan, 90 to 94 percent of agricultural loans are offered for production and only 6 to 10 percent for agricultural development. According to the State ...
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