How IMF turned the world against the British pound

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Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets. Days after the government made its mini-budget announcement, the IMF warned that “large and untargeted […]

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Sri Lanka’s unsustainable external debt patterns

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To a large extent, Sri Lanka’s economic crisis is an outcome of the nation’s reliance on creditor nations and multilateral agencies for managing its chronic fiscal and current-account deficits. The country’s ratio of external debt to GDP has been above 50% for a long time. The debt structure is also fragile as short-term debt and […]

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US extends debt relief to Pakistan after floods

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The rollover relates to the Paris membership agreement in 04 2020 to support 73 lower income countries during COVID-19, under that the US provided comfort on US$128 million in debt to Pakistan. The agreement to postpone payments on that debt, plus an additional US$4 million, has been rolled once again.Continue Reading

British pound debacle worsens Asia’s woes

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In: Asia, Finance

TOKYO — When Larry Summers says it’s bad, you know it’s bad. Ex-Treasury Secretary Summers made his bones amid the wreckage of the 1997-98 Asian financial crisis. Summers was a key member of the financial fire brigade tending to — and at times making worse — a blazing meltdown that left big scars. As such, […]

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A way out of exchange-rate chaos

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Part 1 of this series concluded that “currency hedging is not just costly and in some countries prohibitively so, preventing companies access to credit and grow, but it brings a misallocation of talents in a floating world.” Historically, countries have not managed exchange-rate gyrations well. Their experiences, Japan being prominent, show how accurate Paul Volcker was […]

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Government imposes new property cooling measures: Maximum loan quantum limits tightened, loan-to-value limit lowered

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In: South-East Asia

SINGAPORE: The Government will tighten maximum loan quantum limits and introduce the 15-month wait-out period for private home owners buying Housing Plank resale flats, as part of  new residence cooling measures to market sustainable property marketplace conditions. The Loan-to-Value limit for HDB financial loans will also be lowered from 85Continue Reading

Singapore introduces new property cooling measures: Maximum loan quantum limits tightened, loan-to-value limit lowered

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INCREASE WAIT-OUT PERIOD  Private home owners will have a 15-month wait-out period before they can purchase  a non-subsidised HDB resale even. This will kick in once they have sold their property. The new principle will also apply to people who sold their personal property prior to posting an application toContinue Reading