Beyond Appeasement Nov 12, 2009
From global warming to the zero option on nuclear weapons, President Obama is employing these policy instruments to foster his global goals. Where this will end is anyone s guess. (Human Events Online)
Ekuinas to unveil RM100m projects Nov 10, 2009
He said Ekuinas was just one of the many new and existing policy instruments that the Government had come up with to increase bumiputra participation, albeit in a more targeted and result-oriented manner. While there is a bumiputra agenda, Ekuinas will invest purely in commercially-viable businesses with a Malaysian focus and there are three investment structures, he said, adding that typically ROI on any investment would be in three to four years. (The Star Online, Malaysia -- Business)
Republic of Kazakhstan -- Concluding Statement of the October 2009 IMF Mission Oct 30, 2009
In preparation for this move, the authorities will need to further develop monetary policy instruments, improve the interest rate transmission mechanism, encourage deepening of the foreign exchange market, and promote better management of exchange rate risks by developing a futures and forwards market. Progress in these three areas will strengthen the macroeconomic framework and the financial system s resilience to volatile capital flows, often associated with significant commodity price... (IMF News)
RBI raises SLR by 100 bps to 25% Oct 28, 2009
With the rise in the inflation, the net interest rates of all the policy instruments will become negative. In that situation, Subbarao said, the central bank will use its monetary policy rates to anchor the inflationary expectations. (India Times, India -- Intl Business)
Press Release: Statement by IMF Executive Directors at the Conclusion of their Visit to Georgia Oct 11, 2009
On the monetary policy front, we support the authorities actions to ease monetary conditions in support of the economic recovery but also recognize the limits of traditional monetary policy instruments in the current environment. Georgia s banking sector has weathered pressures so far. (IMF News)
GTUC submits proposals on 2010 Budget to Government Oct 3, 2009
" and reduce poverty if its policies are constraining growth and rigged against the poor? 4.0 Employment 4.1 Employment creation is the single most important socio-economic as well as political challenge facing policymakers in Ghana. The challenge relate directly to the rapid decline in formal sector jobs and the informilisation of employment. In its manifesto for election 2008, the NDC noted, and rightly so, that "Ghana has enough resources for all Ghanaians to have dignified livelihood through... (Ghana Web, Ghana)
Analysis: Soft power, but hard questions, for Iran Oct 2, 2009
The proper assessment is to ask about the cost-effectiveness in comparison to other policy instruments. How important in talks like these is it to have the perceived upper hand going in. (MSNBC -- International)
Policy design as fine balance Sep 23, 2009
The past year has seen truly unprecedented use of fiscal and monetary policy instruments to rev up enterprise, markets and growth, the world over. In the mature markets where financial excesses were clearly committed with massive resort to securitisation and structured products, there's economic contraction still underway, although the mavens are now on record that the Great Recession is all but over and growth is around the corner. (India Times)
The essential pillars of a new climate pact Sep 20, 2009
To keep costs down in the short term and bring them down even lower in the long term through technological change, market-based policy instruments must be embraced as the chief means of reducing emissions. One market-based approach, known as cap-and-trade, is emerging as the preferred approach for reducing carbon emissions among industrialized countries. (Boston Globe)
Many Americans seem unaware of health care facts Sep 13, 2009
But economists have long known that to achieve multiple objectives, decision-makers must have at least as many policy instruments as they have targets. The only congressional policy instruments are the budget and the mandate. (Anchorage Daily News)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Lao People's Democratic Republic Sep 12, 2009
Directors supported the exchange rate as a nominal anchor, until market-based monetary policy instruments can be put in place. They stressed that prompt and determined tightening of fiscal and monetary policies would be necessary to support exchange rate stability. (IMF News)
Ethiopia: Adama University Becoming Model International University - President Sep 10, 2009
In line with the Ethiopian Higher Learning Institutions policy instruments, capacity building of the existing universities has been given particular emphasis. Accordingly, AU emphasises on engineering, technology and natural science courses giving them 70 percent of the space. (allAfrica.com)
Banks to benefit from stricter stance Sep 7, 2009
Meanwhile, Su Ning, deputy governor of the People's Bank of China, the central bank, said at the forum that the country will use various policy instruments to adjust the growth in loans. "We are studying the use of a variety of policy tools to adjust banks' lending activity," Su said, without elaborating. (Xinhuanet, China)
Ireland Appoints Patrick Honohan to Run Central Bank Amid Financial Crisis Sep 4, 2009
The Irish authorities did retain sufficient policy instruments to have combated the emergence of imbalanced; they simply did not use them effectively. . (Bloomberg -- UK)
IMF expects Singapore economy to grow 2.5% next year Sep 1, 2009
com - IMF expects Singapore economy to grow 2. IMF expects Singapore economy to grow 2. (Channelnewsasia.com)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with Singapore Sep 1, 2009
Nevertheless, strong economic fundamentals, coupled with the authorities skillful implementation of a broad range of policy instruments, have helped lessen the impact of the shocks. The focus now is to preserve financial stability and to ensure that Singapore is well positioned to rebound once the global economy recovers, taking advantage of the ample room for maneuver at the authorities disposal. (IMF News)
Bank of Canada's Deputy Governor Lane Says Currency Is An `Important Risk' Aug 26, 2009
We retain considerable flexibility through the use of unconventional monetary policy instruments, including quantitative easing. . (Bloomberg -- Canada)
Africa: Continent And the Global Crisis - Time to Throw Away Neo-Liberalism [editorial] Aug 22, 2009
At the same time, new measures proposed under the Doha Round of WTO negotiations, as well as the proposed terms of the EPAs, will take away the policy space and policy instruments needed for our governments to formulate and implement policies for addressing the crises and our long term development. We are therefore concerned that our governments are not only continuing with the EPA negotiations, but also are keen to resurrect to the anti-development Doha round negotiations under the WTO. We call... (allAfrica.com)
Increased climate volatility expected to worsen poverty vulnerability in developing countries Aug 20, 2009
The paper hopes to inform policy makers to allow better-informed strategic mobilisation of international development resource and climate policy instruments. Barriers such as access to credit, missing infrastructure and the lack of information to those most likely affected must be tackled. (EurekAlert!)
Asian economies outpace US and Europe on growth track Aug 19, 2009
" onclick="Next();" src="/images/butt_next. and also take advantage of what is a growing regional market is helping it sort of move a little bit ahead of the recovery in the US and Europe. (Channelnewsasia.com)
Workshop held on Ghana's oil industry Aug 15, 2009
Accra, Aug. 14, GNA - The Science and Technology Policy Research Institute (STEPRI), in collaboration with SINTEF, a Norwegian research institute, on Friday organized a workshop to design and implement policy instruments to enable Ghana to support local companies in the oil industry. The workshop is also aimed at showcasing the Norwegian model of policy implementation in the oil industry in order to build the capacity of local companies to meet international standards. (Ghana Web, Ghana)
IIP numbers show recovery Aug 14, 2009
The government must continue to use all policy instruments to maintain a positive investment climate and a healthy growth momentum. Read business stories in. (India Times)
Food-price surge to prompt more govt action Aug 6, 2009
"They would want to wait and watch and see the severity of the situation before using any fiscal policy instruments," he said. It won't be the first time that the government has had to intervene to offset soaring food prices. (India Times)
China Says Loose Monetary Policy to Stay Jul 31, 2009
Thursday, July 30, 2009. SIGN UP FOR FREE NEWS ALERTS. (Newsmax)
China's central bank reassures on monetary policy Jul 30, 2009
"We will focus on market tools, not quantitative-style control methods, flexibly using many kinds of monetary policy instruments," Su said. In this context, market tools likely referred to central bank's regular selling and buying of bills in the open market to influence liquidity. (Yahoo News -- Press Releases)
No escape for Fed Jul 30, 2009
There are other policy instruments, additional to monetary and fiscal policy, for promoting durable growth and employment. Promoting competitiveness and flexible price adjustment, although refuted in Keynesian economics, is essential for clearing markets. (Asia Times Online)
RBI lives up to its reputation Jul 29, 2009
All policy instruments the repo rate (at which the RBI pumps in liquidity) the reverse repo rate (at which the bank absorbs liquidity) the CRR or cash reserve ratio which is the quantum of bank deposits impounded by the RBI, the bank rate (a largely defunct rate at which, in theory, the bank lends to commercial banks) have been kept unchanged. Rightly so. (India Times)
Press Release: IMF Executive Board Completes the Second Review Under Seychelles' Stand-By Arrangement and Approves US$1.4 Million Disbursement Jul 1, 2009
Efforts should continue to expand monetary policy instruments and modernize the legal and institutional framework for the financial sector. Structural reforms are needed to lay a firm foundation for sustained recovery. (IMF News)
Press Release: IMF Executive Board Completes First Review Under Stand-By Arrangement with Belarus, Approves US$679.2 Million Disbursement, and Increases Financial Support to US$3.52 Billion Jun 30, 2009
It strikes a balance between additional policy adjustment, using all policy instruments available, and enhanced IMF financial support to close the financing gap during the program period. It also includes stepped up efforts toward liberalizing the economy and preparing for privatization to bolster growth prospects over the medium term. (IMF News)
Fiscal-Financial Nexus: The Challenges and Lessons of the Global Crisis, a speech by IMF First Deputy Managing Director John Lipsky Jun 27, 2009
The deployment of policy instruments to stimulate demand and to support the financial sector, together with the operation of automatic stabilizers, may have been essential to avoid a much more serious crisis. However, they will leave a legacy of fast growing government liabilities that effectively represents a journey into uncharted territory. (IMF News)
AfDB Group President Attends Paris Club Meeting Jun 26, 2009
African governments have deployed a range of policy instruments in response to the crisis, including fiscal stimulus packages, targeted assistance to sectors, capital and exchange controls, new regulations in the banking sectors, and expansionary monetary policies. Some countries have financed counter-cyclical expenditures via the issue of treasury bills and bonds. (allAfrica.com)
* DPPs two birds may stay stuck in birdcage Jun 21, 2009
The Tinbergen Principle in economics says that to attain a given number of independent economic targets, there must be at least an equal number of applicable policy instruments. Based on this, the DPPs strategy to kill two birds with one stone is very likely to fail. (Taipei Times, Taiwan -- World)
Still Needed: A Climate Plan--Looking Past Cap and Trade Jun 19, 2009
Because there is no clear plan yet for achieving any particular objective, there are no reliable estimates of the costs, policy instruments and choices that society will have to face. All is, instead, being left to the market. (Scientific American)
Boosting economic growth May 29, 2009
In Order to counter recession, India has concurrently and effectively used fiscal and monetary policy instruments, strengthened by prompt executive action and monitoring of public expenditure. Rural purchasing power for wage goods and farm equipment received a boost from a 40% increase in minimum support price for wheat, rice, cotton, etc. (India Times)
Pakistan, Taliban and Global Security Part II May 22, 2009
As Vice President Biden has warned: "It is hard to imagine a greater nightmare for America than the world's second-largest Muslim nation becoming a failed state in fundamentalists' hands, with an arsenal of nuclear weapons and a population larger than Iran, Iraq, Afghanistan, and North Korea combined. And President Obama deserves great credit for his April 29 statement that, on the military side, you are starting to see some recognition just in the last few days that the obsession with India as... (YaleGlobal Online Magazine, CT)
* In this crisis, the European Commission could use some flair May 3, 2009
Eurocrats insist that the necessary policy instruments and rules are already in place, but that is to ignore political reality. Unless the EUs internal-market rules can be made more flexible, member governments will flout them. (Taipei Times, Taiwan -- World Business)
Liberia: LACC Launches 1st Corruption Probe -Pleads For US$ 3.8M Budget Apr 16, 2009
Morris pointed out that the commission has also been formulating a number of internal policy instruments in preparation to commence its work, including internal code of conduct, bylaws, Standard operational procedures, statement of confidentiality citation, and employment contract. She further disclosed that those recruited include the Manager for Division, who having to be a lawyer, a chief investigator, a former law enforcement officer with several years of experience, a chief of Intelligence... (allAfrica.com)
Group of 20 ends meeting in London Apr 5, 2009
"7. Our central banks have also taken exceptional action. Interest rates have been cut aggressively in most countries, and our central banks have pledged to maintain expansionary policies for as long as needed and to use the full range of monetary policy instruments, including unconventional instruments, consistent with price stability. "8. Our actions to restore growth cannot be effective until we restore domestic lending and international capital flows. (Ghana Web, Ghana)
G-20 maps road for chaos Apr 1, 2009
Their communique reads: "We have taken decisive, coordinated and comprehensive action to boost demand and jobs, and are prepared to take whatever action is necessary until growth is restored ... Fiscal expansion is providing vital support for growth and jobs. Acting together strengthens the impact and the exceptional policy actions announced so far must be implemented without delay. We are committed to deliver the scale of sustained effort necessary to restore growth, and call on the... (Asia Times Online)
Press Release: IMF-Bruegel-National Bank of Belgium Statement at the Conclusion of the Joint Conference "After the Storm: The Future Face of Europe's Financial System" Mar 26, 2009
Nonetheless, participants had many questions about how the proposed European Systemic Risk Council would function in practice, what policy instruments it may use, and how effective it would be. There was also consensus that the EU s Memorandum of Understanding-based cross-border crisis management arrangements had been of limited practical benefit. (IMF News)
Governor calls for 'simple' rules Mar 18, 2009
Instead, Mr King said, the authorities needed additional "counter-cyclical policy instruments" to control excessive expansion of the financial sector. The main priorities for leaders at the forthcoming G20 summit should be restoring confidence, restructuring and recapitalising banks, he said. (BBC News -- UK)
G20 finance ministers hunt for effective solutions to crisis Mar 16, 2009
However, the G20 central bank governors still agreed to maintain expansionary policies as long as needed and use the full range of monetary policy instruments, including the unconventional ones. All the participants agreed that it was important to strengthen cooperation between the developed countries and developing nations, and the voice and presentation of emerging markets in the international financial system should be raised. (Xinhuanet, China)
Africa: G20 Finance Ministers and Central Bank Governors Meeting Communiqu [document] Mar 15, 2009
Interest rates have been cut aggressively in most countries, and G20 central banks will maintain expansionary policies as long as needed, using the full range of monetary policy instruments, including unconventional policy instruments, consistent with price stability. 5. (allAfrica.com)
BEE must have flexible targets Mar 2, 2009
For these reasons, affirmative action and broad-based BEE are two very important policy instruments that endow black individuals and companies with the access to breakthrough opportunities for them to reach their full potential. If the correct policies and frameworks are implemented, affirmative action and broad-based BEE will add significant value to our economy. (Business Report, South Africa)
COMMENT: Asia's Power Of Three Feb 27, 2009
President Barack Obama's instinct for using diplomacy and power as complementary foreign policy instruments is a necessary corrective to the Bush administration's belief that allies were evidence of military weakness, not proof of diplomatic strength. Foreign governments will look for evidence that Obama's administration will listen attentively to others' needs and concerns while voicing its own preferences and requests. (India Times, India)
Gieve Says Bank of England Is Fighting Threat of Decade-Long Depression Feb 20, 2009
Having a large arsenal of policy instruments, which vary in their point of influence, provides some welcome flexibility. . (Bloomberg -- UK)
Bank aiming to boost money supply Feb 19, 2009
"To the extent that further cuts in bank rate could not inject sufficient stimulus, the committee would need to use alternative policy instruments," the minutes said. "There was a great deal of uncertainty about what would happen to banks' and building societies' ability and willingness to lend at low levels of interest rates.". (BBC News -- Business)
Bank voted 8-1 for 50 bps cut Feb 18, 2009
"To the extent that further cuts in Bank Rate could not inject sufficient stimulus, the Committee would need to use alternative policy instruments," the minutes said. Some members argued that there may be a point at which further rate cuts could start hurting the economy since financial institutions have a spread between their deposit and lending rates which affects their profitability. (International Herald Tribune -- Travel)
BoE unanimous on money creation Feb 18, 2009
"To the extent that further cuts in bank rate could not inject sufficient stimulus, the committee would need to use alternative policy instruments," the minutes said. It will in effect create money to buy up government securities and private sector assets in a bid to boost the economy by improving liquidity in markets, allowing banks to offer more credit. (International Herald Tribune -- Travel)
