S.Africa economic policies to offset c/a risks - government

(Reuters) - South Africa's economic position, including net reserves, will be adequate in dealing with risks associated with the country's huge current account deficit, a top treasury official said on Monday.

Speaking to Reuters after the release of the International Monetary Fund's (IMF) annual country report, National Treasury Director-General Lesetja Kganyago said that the finance ministry was not overly concerned about the current account.


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Asian Currencies Complete Weekly Decline, Follow Drop in Regional Stocks

(Bloomberg) -- Asian currencies completed a weekly
decline, led by a 0.9 percent drop in the Indonesian rupiah, as
overseas investors reduced holdings in the region's stocks.

Global funds were net sellers of shares in South Korea,
Taiwan and Thailand this week as benchmark stock indexes dropped.
Indonesia's central bank said Aug. 1 it's not worried by the
rupiah's decline and the International Monetary Fund said the
next day the volatility in financial markets poses a risk to
economic growth.


Read more at Bloomberg Currencies News

China, Singapore, Malaysia, Sri Lanka, Thailand: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: The nation needs to have ``more flexibility'' in its
exchange-rate policy, International Monetary Fund Managing
Director Rodrigo de Rato said. De Rato said he was concerned
there could be a ``reappraisal of risk which would curtail
market access,'' in a speech in Manila yesterday. The central
bank raised the deposit reserve ratio late July 30, requiring
commercial lenders to set aside more money as reserves for a
sixth time this year.


Read more at Bloomberg Bonds News

IMF's Rato - China currency policy constrains all Asia

(Reuters) - If China let its yuan currency find its value more freely, other Asian nations' currencies could appreciate without fear of losing exports, International Monetary Fund chief Rodrigo de Rato said.

In a speech prepared for delivery on Saturday to a bankers' conference in Bangkok, Thailand, Rato suggested that China's managed currency was helping fuel potentially dangerous protectionist sentiments. The text was released in advance in Washington.


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IMF board says nominations for top job open to all

(Reuters) - The International Monetary Fund's board said on Monday that any country could nominate a candidate to succeed IMF Managing Director Rodrigo Rato, throwing open a job customarily given to Europeans.

"Any executive director may submit a nomination, regardless of nationality, for the position, consistent with past practice," the board of IMF shareholder nations said in a statement, as some European members pushed to maintain a tradition of selecting the head of the institution.


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IMF to meet Monday on process to select new chief

(Reuters) - The IMF board will meet on Monday at the prompting of developing nations which want Europe and the United States to agree to throw open selection of a new managing director to candidates from around the globe, officials said on Friday.

The top International Monetary Fund job has always gone to a European since the global financial institution was created in 1945, under an informal deal where the United States appoints the head of its sister organization, the World Bank.


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UPDATE 2-Canada softens tone on securities regulation

(Reuters) - OTTAWA, June 19 - Canada's government appeared to
soften its push for a national securities regulator on Tuesday,
saying it would also consider an alternative regulation scheme
favored by most provincial authorities.




Finance Minister Jim Flaherty has tried for the past year
to convince his 13 provincial and territorial counterparts to
streamline their securities regulators into a single body, a
goal that won the blessing of the International Monetary Fund.


Read more at Reuters.com Bonds News

Chavez Plan to Withdraw From IMF May Give Pimco, MFS $451 Million Windfall

(Bloomberg) -- Venezuelan President Hugo Chavez's
pledge to withdraw from the International Monetary Fund may
violate terms of the country's foreign bonds, allowing investors
to demand their money back.

Pacific Investment Management Co. and Alliance Capital
Management, the biggest holders of Venezuela's debt, would get a
$451 million windfall if the securities are redeemed because
they own bonds that trade below face value, according to data
compiled by Bloomberg. The country has $6.5 billion of notes
that trade at a discount among its $20 billion in foreign bonds.


Read more at Bloomberg Bonds News