EU10 February 2009 In Focus: Interbank Markets and Spillover from the Global Crisis
Sunday, 22 February 2009 , Written by « World Bank »   

Ongoing tensions and volatility in international money and interbank markets spilled over to the less-developed domestic interbank markets in the EU10 and Croatia (EU10+1) during 2008. The high levels of foreign borrowing and lending of EU10 banks has created significant dependence on well-functioning FX swap markets. But liquidity in these markets was significantly impaired in the last quarter of 2008, with bid-ask spreads surging in forward exchange markets. Pressures spread from the FX swap markets to the EU10+1’s overall domestic interbank markets and FX spot markets, with particularly disruptive effects on the financial systems in Hungary and Latvia. Central banks have intervened to enhance access to domestic and foreign currency liquidity via reserve drawdowns, cuts in reserve requirements, and agreements with foreign central banks. The European Central Bank has provided some support for local FX swap markets. Not surprisingly, local interbank markets were most disrupted in countries where credit growth had been significantly externally financed, highlighting ongoing risks to banks from FX lending. These recent episodes will likely encourage policymakers to consider more carefully the risks to domestic banks generated by foreign exchange transactions.

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The Good Governance​ Standard for Public Services
Thursday, 19 February 2009 , Written by « Hackney Press Ltd »   

Using the Standard

The purpose of the Standard

We intend the Good Governance Standard for Public Services as a guide to help everyone concerned with the governance of public services not only to understand and apply common principles of good governance, but also to assess the strengths and weaknesses of current governance practice and improve it. We hope that the Standard will be useful to governors who are striving to do a diffi cult job better, and to individuals and groups who have an interest in scrutinising the effectiveness of governance.

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Tuesday, 17 February 2009 , Written by « NGO Forum on Cambodia. »   


 Cambodia possesses significant deposits of natural resources such as gold, copper, bauxite, oil and gas. A large number of international companies from countries such as Ame rica, Australia, China, Korea, Kuwait, Malaysia, and Sweden signed exploration contracts with the Royal Government for oil, gas and minerals in Cambodian territory. Mining companies are

active in provinces such as Kampong Thom, Mondulkiri, and Ratanakiri, while oil companies are currently exploring off-shore and around the Tonlé Sap basin. Although most exploration is at an early stage, it is virtually certain that some of this exploration will turn into exploitation that brings substantial revenues into to the Royal Government. For instance, it has been estimated that oil revenue only one moderate size oil sector could produce revenues for the Royal Government from US$ 174 million in 2011 to a maximum of US$1.7 billion in 2021 [Source: IMF(2007), IMF Country Report No.07/291].

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