The International Monetary Fund decided last month to alter its long-standing policy of not lending to countries with arrears to official creditors—national governments or agencies they sponsor—thereby enabling it to continue lending to Ukraine should it fail to repay on time a $3 billion bond due to Russia.
Governance, Regulation & Compliance
When the Justice and Development Party (AKP) swept elections in November, financial markets were focused neither on prime minister Ahmet Davutoğlu, nor on president Recep Tayyip Erdoğan. All eyes were on new deputy prime minister Mehmet Şimşek, the former Finance minister, who may be the only reformer within the largely statist AKP.
Management | Corporate Governance
With the enactment of the Modern Slavery Act in October, the United Kingdom has made a new addition to the growing body of compliance regulations sprouting up globally.
Management | Corporate Boards
Led by investors such as Carl Icahn, Bill Ackman and Jeff Smith, and targeting companies from DuPont to PepsiCo, campaigns by activist investors have become a common occurrence in the United States in the past few decades.
Capital Markets | Banking Licenses
Saudi Arabia cracked open the door to direct investments in its stock market by qualified foreign institutions in June, when HSBC became the first foreign firm to receive a license.
The International Securities Services Association adoption of financial crime compliance principles, could prove costly for custodian banks, who are nervous about the changes.
Executive Pay | Since the global financial crisis of 2008, corporate boards have been under pressure to tie executive pay to performance.
Global Finance’s annual evaluation of the work of the world’s central bankers found some stellar performances, and some dismal ones. The toughest challenge for many: propping up falling prices.