Latest articles from World

Ready for stage two reforms

July 2, 2004

Mozambique’s prime minister, Luisa Diogo, tells James Eedes about the country’s immense progress in the past decade and its plans for future reforms.

From chaos to confidence

July 2, 2004

Finance minster Yaw Osafo-Maafo tells James Eedes how Ghana has managed to shake off financial chaos in the past four years and take the lead in establishing new benchmarks of governance in Africa.

Shortcomings are being identified and addressed

July 2, 2004

Tanzania’s finance minister Basil Mramba talks to Steven Timewell about moves to secure natural resources and update land legislation to free up domestic financing.

Egyptian endeavours

July 2, 2004

A revival in corporate activity and several major project financings give Egypt reasons to be positive, write Jon Marks and Kevin Godier.

Does Iraq herald America’s last stand?

June 2, 2004

While the US gets further embroiled in Iraq, economies such as China and Brazil are starting to assert themselves.

Korean finance back on agenda after impeachment resolution

June 2, 2004

With the uncertainty surrounding the two-month long impeachment process of President Roh Moo Hyun now finally resolved, and the president firmly back in the saddle, South Korea is keen to push ahead with more financial reform and, in particular, focus on asset management.

BoC sets 5% target for bad loan ratio

June 2, 2004

Bank of China (BoC), the largest of China’s big four state-owned banks, has announced that its non-performing loans ratio will be down to around 5% by the end of 2004 as it plans to bring in a strategic investor later this year in preparation for its IPO. This significant reform of the bank’s ownership structure reflects the Chinese authorities’ determination to reform the big four banks which account for 55% of China’s bank assets.

Germany’s VDH takes control of European covered bonds dispute

June 2, 2004

German mortgage banks are campaigning to develop a common legal definition and standard for covered bonds. The dispute was sparked last year by three UK banks issuing covered bonds which do not legally qualify as this asset class.

India’s new government promises to continue economic reform

June 2, 2004

India’s Congress Party will lead an alliance of political parties that will form the next government after it emerged the surprise victor in the country’s national elections in early May. Voters shunned the previous regime led by the Bharatiya Janata Party whose economic reforms appear to have left a large majority of rural Indians unmoved.
Manmohan Singh, the former finance minister, will be the new prime minister after Congress party president Sonia Gandhi turned the job down.

China seeks to lower economic heat without extinguishing it

June 2, 2004

China is set to use medicine strong enough to cool down its investment fever, but not so potent as to bring the economy to a standstill. Banks are at the forefront of this austerity campaign, acting on the orders of the central government to choke off credit supply to overheated sectors.

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