Bundesbanker Weidmann remains critical of the ECB
On his 10th anniversary, Germany s top central banker said emergency bond buying and cash are fine. Katharina Brienne und Michael Maier, 30.4.2021 - 16:25 Uhr
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Jens Weidmann, Präsident der Bundesbank.
Berlin - Jens Weidmann celebrated his 1oth anniversary as president of the Bundesbank, Germany s central bank, on Saturday 1 May. He took office at the age of 43, the youngest Bundesbank president ever. Weidmann was an early critic of the European Central Bank s (ECB) monetary policy during the then-brewing debt crisis. To this day, he favours caution.
At the time, the ECB had entered completely uncharted territory, Weidmann said after the German cabinet approved his second term in 2019. In that respect, he said, his first eight years as Bundesbank president had been very eventful. Weidmann is often discussed as a person who relies on softer tones and the power of arguments. We talked to him about the ECB
What happens now to the EU s post-Covid recovery fund?
Last December saw intense negoations among EU leaders on the recovery financing and the long-term EU budget (Photo: Council of the European Union)
Brussels, 5. May, 07:18
The wheels have started to turn in the EU machinery to get the €800bn recovery package - designed to mitigate the economic fallout from the pandemic - rolling.
But it will take time before member states budgets receive the first euros, at the start of the summer at best, almost a year after EU leaders agreed to issue joint debts to finance the continent s recovery.
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May 4, 2021
The CSIS Economics Program is tracking commitments and approvals by major international financial institutions (IFIs) to meet the massive financing needs generated by the Covid-19 pandemic and its economic fallout. These IFIs include the International Monetary Fund (IMF), World Bank Group, and major regional development banks. We also include select regional financing arrangements (RFAs), which, together with the IFIs, central bank bilateral swap lines, and individual countries’ foreign reserve holdings, comprise the Global Financial Safety Net (GFSN).
Based on data updated through March 31, 2021:
We estimate IFIs have approved $262.4 billion in Covid-19-related support through Q1 2021. In total, the IMF has approved $108.6 billion, including emergency assistance and precautionary lines of credit, while the multilateral development banks (MDBs) have approved a combined $151.9 billion. MDB approvals are led by the European Investment Bank (EIB) and the World Bank, e
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