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The presence of women, alongside men, at the top of public and private financial institutions is beneficial for both the organisations themselves and the global economy. OMFIF is contributing to this conversation by launching the sixth annual Gender Balance Index, which tracks the presence of men and women in senior positions at central banks, sovereign funds and public pension funds.
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Central banks have become more visible and more vulnerable. The 100th edition recognises the bittersweet realities of modern central banking. No fewer than eight serving and former central bank governors and deputy governors have contributed to this edition of the magazine, representing both major advanced economies and emerging powers in all corners of the world.
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Since 2009 central banks worldwide have been on a gold buying spree, adding almost 4,000 tonnes of the yellow metal to their reserves. The value of their total gold holdings is around $1.4tn, or 10% of all central bank foreign exchange assets. This rapid increase in gold holdings follows an extended period of decline from the early 1970s to the 2008 financial crisis.
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In a speech delivered at an OMFIF roundtable in London, Mark Sobel, former deputy assistant secretary for international monetary and financial policy at the US Treasury, highlighted how nationalism and protectionism could shatter global confidence in the US and threaten past diplomatic efforts to promote a stronger world economy.
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The OMFIF meetings monthly review provides readers with a recap of the meetings that took place over the past month and provides a sample of the forthcoming meetings in the next six months. The January review covers meetings in Singapore, London and Davos. To learn more about OMFIF Meetings and Membership, please email enquiries@omfif.org
Read moreThe private sector must redouble efforts to finance infrastructure projects in emerging Asia, writes Jang Ping Thia. Multilateral institutions such as the Asian Infrastructure Investment Bank can bolster public investment, given their ability to lend counter-cyclically and take longer-term exposures.
Ongoing US-China trade talks are a skirmish in what could become a protracted struggle to realign global economic interests. One way to keep that contest peaceful is to recognise it is a long-term project that could benefit both sides if they keep communication channels open, writes Darrell Delamaide.
The mid-April deadline for the next US Treasury report on the foreign exchange policies of major trading partners looms. The Treasury's civil servants do an outstanding job, but can do even better, writes Mark Sobel. A more fulsome global economic discussion would only benefit the public.
Ahead of its departure from the European Union, the UK faces a choice between Prime Minister Theresa May's withdrawal agreement, or a no-deal Brexit, said OMFIF Chairman David Marsh. Appearing on CNBC, he said a second referendum or a general election are unlikely to happen any time soon.
After a brief recovery, Italy has succumbed to its third recession in a decade. Its government is unlikely to revive flagging investor confidence. Ahead of the European elections, it will probably not undertake those economic reforms that might jumpstart the moribund economy, writes Desmond Lachman.
The Federal Reserve's decision to pause rate rises was long telegraphed and widely expected. But the dovish messaging in its statement and Chair Jerome Powell's press conference surprised markets. The reasoning for the sharp shift in rhetoric between December and January remains elusive, writes Mark Sobel.
Under President Nicolás Maduro, Venezuela has fallen ever further into an economic death spiral, writes Steve Hanke. While Washington declared economic war, Caracas announced it was going to devalue the bolívar to allow its value to align with that in the black market, with significant implications.
Jerome Powell wanted to make sure everyone understood that the Fed has changed its stance and that patience is the new byword. Not gradual rises in interest rates, not balanced risks, but patience, writes Darrell Delamaide. Other policy-makers made similar remarks, with the FOMC sounding like an echo chamber.
A roundtable with Julio Velarde, Governor, Banco Central de Reserva del Perú
Mon 25 Feb 2019
FEBRUARY | 10:30
China and the US in the global economy
Tue 5 Mar 2019
MARCH | 08:30
A roundtable with Ratna Sahay, deputy director, IMF, capital markets department, and Jochen Schanz, senior economist, Bank for International Settlements
Wed 6 Mar 2019
MARCH
Gender Balance Index marking International Women’s Day
Thu 7 Mar 2019
MARCH
Roundtable with NRW.Invest
Mon 11 Mar 2019
MARCH | London
A roundtable with Natacha Valla, Deputy Director General for Monetary Policy, European Central Bank
Thu 14 Mar 2019
MARCH | 09:00
The 2018 Absa Africa Financial Markets Index launched in Bali alongside the IMF-World Bank Group meetings. In its second year, the index is a premier indicator of the attractiveness of Africa’s capital markets, for use by investors and asset managers around the world.
Stock market volatility tends to reach its peak in October, underlined by famous crashes in 1929, 1987 and 2008. Cross-currents in the world economy make this October particularly pivotal, especially in the light of the tug of war between good news out of the US and bad news out of China.
Global growth and inflation figures, in addition to rising commodity prices and interest rates, point to the risk of staglation over the summer months. The geopolitical backdrop, and the threat of a US-China trade war, also has a whiff of stagflation about it.
The world is experiencing one of the longest economic expansions since records began and there's no end in sight, with muted inflationary pressures keeping interest rates low. Stock markets like this not too hot, not too cold 'Goldilocks' backdrop.
Global infrastructure financing has fallen short of its potential.Private sector investment and institutional investor capital are often raised as possible solutions for filling the infrastructure funding gap.
This month’s poll focuses on the prospect of further trade antagonism between the US and China. Participants were asked: ‘Will China and US trade tensions alleviate or escalate in 2019?’
