Thursday , July 29 2021
Home / Tag Archives: Politics

Tag Archives: Politics

“Unabhängigkeit der Nationalbank (Independence of the SNB),” FuW, 2020

Finanz und Wirtschaft, July 25, 2020. PDF. Von verschiedenen Seiten werden Ansprüche an den Gewinn der Nationalbank gestellt. Es sollte in der Kompetenz der SNB liegen, zu entscheiden, welchen Teil ihrer Bilanz sie nicht zur Erfüllung ihrer Aufgaben benötigt. Die Europäische Zentralbank ist Kritik gewohnt. Immer wieder sieht sie sich mit dem Vorwurf konfrontiert, ihre Kompetenzen zu überschrei­ten. Dabei spielt die Diskussion über monetäre Staats­finanzierung eine...

Read More »

SNB’s swollen balance-sheet poses risk to ‘credibility’

The SNB avoids giving firm guidance on where it believes the currency should be, keeping speculators guessing (Keystone) When the Swiss National Bank (SNB) followed last year’s $50 billion (CHF48.6 billion) profit with a record $39 billion first-quarter loss, it was a stark illustration of the volatility created by a decade of unconventional monetary policy. The SNB’s balance sheet has ballooned over the past decade as the bank has snapped up other currencies in an...

Read More »

Swiss National Bank to distribute 4 billion francs of profit

 © Michael Müller | Dreamstime.com In 2019, the Swiss National Bank (SNB) made a profit of around CHF 49 billion. These profits came mainly from the rising value of the assets on the bank’s balance sheet. In 2019, the value of its holdings of foreign currency and gold rose substantially. When combined with interest, dividend income and gains on shares total profits for the year were CHF 49 billion. When combined with past retained profits, the SNB’s total accumulated...

Read More »

Reform Doesn’t Have to Cost Votes

By Davide Furceri, Jonathan D. Ostry, and Chris Papageorgiou Economic reforms are often painful in the short term and hence unpopular, but does that mean reform-minded leaders always pay a price at the ballot box? Not necessarily, we learned in our analysis of structural reforms and election outcomes in 66 countries. The question is timely, because the economic policy agenda in both advanced and developing economies is increasingly focused on structural reforms, amid persistently weak...

Read More »

The Wealth of Nations: Governments Can Better Manage What They Own and Owe

By Vitor Gaspar, Jason Harris, and Alexander Tieman October 10, 2018 A firefighter in Auckland, New Zealand: when governments know what they own they can put their assets to better use and can earn about 3 percent of GDP more in revenues to spend on citizens’ well being (Photo: Rafael Ben-Ari/Newscom) What is the state of your personal finances? You probably think first about your debts: your mortgage, your credit card balance, and your student loans. But you probably also think about...

Read More »

From Shadows to Sunlight, Paraguay’s Road to Transparency

By IMFBlog June 15, 2018 Lea Giménez Duarte, Paraguay’s Finance Minister speaking at IMF World-Bank Spring meetings seminar Restoring Trust by Curbing Corruption (photo: IMF) Current Paraguayan Finance Minister Lea Giménez Duarte knows first-hand that transparency pays off. In this podcast, Duarte says the changes began after the government passed a transparency law in 2014. “We started to rethink about how we manage resources, and why it’s important for people to know what we’re...

Read More »

Swiss median monthly wage exceeds CHF6,500 ($6,506)

The survey found that the pay gap between the highest and lowest earners decreased only very slightly in the years between 2008 and 2016, A government survey analysing wage structures in the Alpine nation found that the median salary for a full-time job in 2016 was CHF6,502 ($6,509) for the entire Swiss economy. The bottom 10% of Swiss earners had a salary of less than CHF4,313 ($4,317), while the best paid 10% earned...

Read More »

Shining a Bright Light into the Dark Corners of Weak Governance and Corruption

By Christine Lagarde April 22, 2018 Versions in عربي (Arabic), 中文 (Chinese), Français (French), baˈhasa indoneˈsia (Indonesian),  日本語 (Japanese), Português (Portuguese),  Русский (Russian) Anti-corruption strategies require broader regulatory and institutional reforms (Kritchanut/iStock). The IMF Executive Board has just endorsed a new framework for stepping up engagement on governance and corruption in our member countries. Let me talk about why this is important and what it means...

Read More »

Bringing Down High Debt

By Vitor Gaspar and Laura Jaramillo April 18, 2018 Versions in 中文 (Chinese),  Español (Spanish), 日本語 (Japanese),  Português (Portuguese) High debt makes governments’ financing vulnerable to sudden changes in market sentiment (photo: NYSE-LUCAS JACKSON-REUTERS Newscom). Global debt hit a new record high of $164 trillion in 2016, the equivalent of 225 percent of global GDP. Both private and public debt have surged over the past decade. High debt makes government’s financing vulnerable...

Read More »

Fiscal Rules: Make them Easy to Love and Hard to Cheat

By Xavier Debrun, Luc Eyraud, Andrew Hodge, Victor Lledo, Catherine Pattillo, Abdelhak Senhadji April 13, 2018 Versions in Português  (Portuguese) The national debt clock in New York City: a fiscal rule, like the debt ceiling, should not be set too low or too high. (photo: Frances M. Roberts/Newscom) Rules to contain lavish government deficits are most effective if countries design them to be simple, flexible, and enforceable in the face of changing economic circumstances. In new...

Read More »