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Economy & Business - July 2007 (ISSN 1741-4431)
What are central bank reserves for?
In Latin America, as well as in most emerging markets, central banks have
been accumulating reserves. The most dramatic run-up is in Brazil, where
reserves, which were a cause for IMF concern in 2000, now top US$150bn. The big
economic questions, addressed by the Bank for International Settlements (BIS) in
its recent annual report, are; what purpose do reserves have in a modern economy
and are central banks the appropriate institutions to manage reserves?
- What are central bank reserves for?
- MEXICO: Still pretty sluggish
- FISCAL REFORM: Mexican government resigned to tax changes
- BRAZIL: Dollar continues to weaken as interest rates slashed
- ARGENTINA: Energy crisis bites
- URUGUAY: Inflation worries
- CHILE: Central bank raises rates
- PARAGUAY: Importers oppose higher tariffs
- BOLIVIA: Morales argues that inflation is inevitable
- COLOMBIA: The benefits of the strong peso
- ECUADOR: Diversifying exports
- VENEZUELA: Cabezas promises another package
- PERU: Central bank raises rates
- COSTA RICA: Banks raise profits by 11%
- CUBA: Castro rails against waste
- DOMINICAN REPUBLIC: Inflation down to 0.4%
- EL SALVADOR: Tax collection surges
- PANAMA: 9% growth in first quarter
- GUATEMALA: Central bank reins in credit
- HONDURAS: Trade deficit gaping
- NICARAGUA: IMF money to be used for energy
- AGRIBUSINESS: UN and US disagree massively over coca
- ENERGY: Chávez forecasts oil at US$100 a barrel
- MINING: Antofagasta give go-ahead to Esperanza
- BUSINESS: Who is going to build a refinery in Central America?
- REMITTANCES: The downside to remittances
- LATIN AMERICAN COMPANIES: Profits soar
- DEBT: Argentina dallies over Paris Club