samchain/econo-pairs-v2 huggingface dataset:
amadhila is highly skilled and qualified to address the gathering on issues of macroeconomic management and the nexus between fiscal and monetary policies. i would now like to call upon the right hon. prime minister of the republic of namibia to address this opening session of the 57th ccbg meeting. i thank you. 2 / 2 bis - central bankers'speeches

for our monetary policy to have the intended effect, the transmission channel must be effective. that is why we have started a dialogue with the commercial banks to ensure that the transmission mechanism works effectively. there are some who suggest that our actions in this regard are irresponsible. they accuse us of causing financial instability. they also accuse us of chasing away potential investors. let me assure you that, as a regulator of the banking sector, we are well aware of our responsibilities. in carrying out our responsibilities, we will always do so in the best interest of namibia. after all, financial stability is one of our main objectives and we take our responsibilities seriously. let me now return to the main topic for tonight. in less than five months we will celebrate our 20th independence anniversary. twenty years is an appropriate period to take stock of our achievements since independence and to reflect on the way forward. our 20th anniversary as a sovereign nation is also symbolic in the sense that we will be exactly 20 years away from the target date of vision 2030. according to v2030, in twenty years from now we want to be a prosperous and industrialized nation ; and we want to enjoy peace, harmony and political stability. more specifically, the vision states that namibia will be an upper income country. that means that we should have a per capita income of at least us $ 17, 000 and unemployment of below 5 percent. let us therefore pause for a moment and ask ourselves whether we are on track towards meeting these noble objectives. to be sure, we certainly have achieved a lot in the last twenty years and we have every reason to celebrate our achievements. it is not an overstatement to say that we have been the envy of many countries in the sub - saharan african region. our achievements can be grouped under three categories, namely political, macroeconomic, and social. political stability is an indispensable condition for sustainable economic development. without political stability economic development is simply not possible. we should be proud that in a relatively short time we were able to establish a stable and mature democracy. we have managed to build strong institutions, including independence of the judiciary, good governance and protection of property rights. in just a few days from today, namibians will for the fifth time go to the ballot boxes for the presidential and national assembly elections. i would like to wish all the political parties taking part in the elections good luck. indeed we have reason to celebrate. as to macroeconomic stability we have equally been successful
ardian fullani : overview of albania ’ s latest economic and financial developments speech by mr ardian fullani, governor of the bank of albania, on the monetary policy decision - making of the bank of albania ’ s supervisory council, tirana, 27 february 2013. * * * today, on 27 february 2013, the supervisory council of the bank of albania reviewed and approved the monthly monetary policy report. based on the latest monetary and economic developments in albania, and following discussions on their future outlook, the supervisory council of the bank of albania decided to keep the key interest rate unchanged, at 3. 75 %. the supervisory council deems that the monetary conditions are adequate to comply with the medium - term inflation target, providing the necessary monetary stimulus to boost domestic demand. let me now proceed with an overview of the economic developments and key issues discussed at today ’ s meeting. * * * annual inflation was 2. 7 % in january. higher food prices were the major contributor, about 75 %, to inflation formation. in this regard, unprocessed foods, which recorded double - digit growth rates, contributed the most to this formation. the prices of the other consumer basket items fluctuated narrowly, maintaining their low contribution to inflation. in the macroeconomic aspect, inflation was formed by the presence of spare production capacities, while supply - side shocks were absent. the slow growth of production costs and low profit margin for businesses were reflected in low core and headline inflation rates. in addition, the stable exchange rate, anchored inflation expectations and low monetary expansion contributed to maintaining price stability. the albanian economy is estimated to have grown below its potential in 2012. recent economic and monetary data confirm, overall, our earlier assessment for the presence of a negative output gap. on the demand side, economic growth was driven mainly by net exports growth, whereas domestic demand is estimated to have provided low contribution. data on trade in goods during the fourth quarter show that exports increased 12 % and imports fell 9. 5 %, year on year. subsequently, the nominal trade deficit narrowed 20. 1 %, in annual terms, boosting aggregate demand in this quarter. on its side, domestic demand remains weak, due to consumers and businesses hesitation to consume and invest. lending standards continue to be tight as banks are more prudent about lending. budget expenditure fell about 0. 3 %, year on year, owing mainly to contracting capital expenditure. collected revenue was also downward, eventually reducing the budget deficit by 1. 2 % compared

. the bank of albania will continue to implement a stimulating monetary policy for as long as inflationary pressures will remain weak. stimulating monetary conditions support aggregate demand growth and full utilisation of production capacities, creating, therefore, the premises for complying with the medium - term inflation target. bis central bankers ’ speeches
forward to those efforts. 2 / 2 bis central bankers'speeches

travel, to name just a few. the demand for a virtually infinite array of impalpable values is, to a first approximation, insatiable. understandably, today ’ s efforts to create new values for consumers concentrates on these impalpables, which offer the highest potential value - added relative to costs in physical resources and human effort. unbundling the particular characteristics of each good or service facilitates maximizing its value to each individual. some individuals place more value on, and are willing to pay more for, style y rather than style x, whereas others prefer x. producing both x and y enhances overall consumer well - being. fifty years ago, only x was feasible. this striving to expand the options for satisfying the particular needs of individuals inevitably results in a shift toward value created through the exploitation of ideas and concepts - - or, more generally, information - - from the more straightforward utilization of physical resources and manual labor. thus, it should come as no surprise that, over the past century, by far the largest part of the growth in america ’ s real gross domestic product is the result of new insights and, more broadly, new information about how to rearrange physical reality to achieve ever - higher standards of living. the amount of physical input into our real gdp, measured in bulk or weight, has contributed only modestly to economic growth since the turn of the century. we have, for example, dramatically reduced the physical bulk of our radios, by substituting transistors for vacuum tubes. thin fiber optic cable has replaced huge tonnages of copper wire. new architectural, engineering, and materials technologies have enabled the construction of buildings enclosing the same amount of space, but with far less physical material than was required, say, 50 or 100 years ago. most recently, mobile phones have become significantly downsized as they have been improved. as it became technologically possible to differentiate output to meet the increasingly calibrated choices that consumers now regularly make, the value of information creation and its transfer was expanded. hence, it is understandable that our advanced computer and telecommunications products have been accorded particularly high value and, thus, why computer and telecommunications companies that successfully innovate in this field exhibit particularly elevated stock market values. breakthroughs in all areas of technology are continually adding to the growing list of almost wholly conceptual elements in our economic output. these developments are affecting how we produce output and are demanding greater specialized knowledge. we could
for these company buffers, their creation is directly connected with wage restraint during economic booms. the creation of buffers is just as important for the public sector as for the corporate sector, particularly in the central government. it is necessary to generate budget surpluses during economic booms, in order to have room for manoeuvre in bad times and to endure deficits in times of recession within the framework of the stability and growth pact, and its 3 per cent of gdp limit. responsibility for curbing the booms and softening the recessions will shift in the emu world to a much greater extent than before to fiscal policy. here political decision - making will face strong pressures and challenges, both in finland and in many other countries. on the whole, it is good to keep in mind that a monetary union country with good central government finances will certainly have far more room for independent economic policy manoeuvring than will a non - monetary union country with a large central government deficit and debt. [UNK]

authorities, but the ssm regulation assigns some macroprudential tasks also to the ecb. in particular, the ecb may decide on stricter measures than national authorities, using the counter - cyclical buffer or other macro - prudential tools provided for by the eu legislation. bis central bankers ’ speeches as a conclusion, i would like to end my presentation on a positive note, based on the fresh news we have heard from the ecofin meeting held the day before yesterday. discussions about the single resolution mechanism seem to be progressing, and we can expect some good results from brussels next week. bis central bankers ’ speeches
these markets. to conclude, i would like to stress on the importance of allowing financial technologies into our financial markets and at the same time implementing proper regulatory regimes to ensure such technologies, market players and our economy is not abused for illicit purposes. blockchain technology, if properly used, can be applied in a large variety of sectors, including, trade, commerce, healthcare and governance. it could be used in pledging of collateral, registration of shares, bonds and other assets, and operation of land registers, and many more. i wish you all a successful conference. thank you. wassalam alaikum. 3 / 3 bis central bankers'speeches

ahmed munawar : speech - 2024 annual meetings of the imf and the world bank group remarks by mr ahmed munawar, governor of the maldives monetary authority, at the 2024 plenary of the boards of governors of the international monetary fund and the world bank group, washington dc, 25 october 2024. * * * assalam alaikum and a very good morning it is a great honor to you to the 2024 plenary of the boards of governors of the international monetary fund and the world bank group. a warm welcome to the managing director of the imf kristalina georgieva and the president of the world bank group ajay banga. congratulations ms. georgieva, on commencing your second term as the md. this year is special. we are celebrating the 80th anniversary of the bretton woods institutions - a major milestone in the history of global economic governance. i would like to reflect on the words of the first annual meetings chair of the boards of governors, u. s. treasury secretary, john w. snyder : " in joining the fund and bank, our respective governments have not only invested large sums of money, but they have in a considerable measure staked their economic destinies on the success of these institutions. we must not fail our governments and, above all, the hopeful people we represent. " these words hold true today, as they did 80 years ago. for 80 years, the imf and world bank have remained beacons of hope, managing global crises from wars to pandemics. even in tough times, we find resilience. chairing the board of governors in this historic meeting by a small state like mine is a sign of the inclusivity of these institutions. despite tighter financial conditions and rising geopolitical tensions, the global economy is showing remarkable strength. a soft landing is within reach. inflation is moderating. yet, we cannot become complacent. uncertainty remains high. ongoing conflicts and upheavals in many parts of the world cast a shadow over our progress, and further escalations would have a much larger impact on vulnerable economies, including through higher commodity prices. it is true that significant challenges remain, and i would like to highlight three such challenges. firstly, climate change. small countries like the maldives, are on the front lines of climate change. the maldives aims to have 33 % of its electricity from renewable sources by 2028. this transition will build climate resili
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). this shortening occurred even though the ecb ’ s assessment of prices and economic activity and its monetary policy inclination remained constant. the earlier - than - projected hike in the interest rate implies a faster - than - projected monetary tightening, which may undermine the economic recovery process. in this sense, the ecb ’ s action can be interpreted as a provision of monetary accommodation, because it helped lengthen the expected duration of the current interest rate policy by financial markets in line with the ecb ’ s view. c. forward guidance in the united kingdom in the united kingdom, the monetary policy committee ( mpc ) of the boe made a new move in july 2013, although it was not forward guidance describing the future monetary policy stance. after expressing concerns about the significant upward movement in market interest rates, the statement it issued indicated that in the committee ’ s view, the implied rise in the expected future path of bank rate [ the policy interest rate ] was not warranted by the recent developments in the domestic economy. because the statement helped to lower the market interest rates, the effects were similar to those of the ecb. following a new remit letter from george osborne, the chancellor of the exchequer, in march 2013, the mpc released a comprehensive set of forward guidance over the future conduct of monetary policy in august 2013. the statement indicated that the mpc intends not to raise bank rate from its current level of 0. 5 percent at least until... the unemployment rate has fallen to a threshold of 7 percent, subject to the conditions below. the mpc stands ready to undertake further asset purchases while the unemployment rate remains above 7 percent, if it judges that additional monetary stimulus is warranted. it was also stated that the stock of asset purchases would be maintained until the 7 percent threshold is reached and subject to conditions. the conditions are then defined in the form of the following three “ knockouts ” : ( 1 ) the cpi inflation 18 and 24 months ahead will be above 2. 5 percent ; ( 2 ) medium - term inflation expectations do not remain well anchored ; and ( 3 ) the financial policy committee ( fpc ) judges that the stance of monetary policy poses a significant threat to financial stability that cannot be contained by the substantial range of mitigating policy actions available to the fpc. if any of these knockouts are breached, the mpc will cease the above - mentioned guidance. it is state - contingent guidance, linking to the policy interest rate, asset
which is, as quite important, recognised and by the ecb, in order to reduce risks of sudden stops. more than half of investments in serbia are channelled to tradable sectors, with one third of the total going to the manufacturing industry through many small projects to export - oriented sectors. being so, the fdis were one of important drivers of the two - digit export growth rates of our manufacturing industry during the last four years. plus, we also have constant growth in geographical diversification of fdis, also recognised as important. fdi structure by sector fdi inflow ( net basis ) and coverage of current account ( in eur bn ) net fdi, % of gdp 4. 0 177 % fdi / cad coverage other finance transportation mining construction and real estate trade manufacturing 3. 5 143 % 146 % share in gdp : 3. 0 2. 5 118 % 9. 4 102 % 2. 0 91 % 7. 5 7. 0 6. 4 56 % 35 % 5. 1 1. 5 1. 0 5. 2 0. 5 3. 6 21 % 3. 6 3. 5 0. 0 - 0. 5 2. 2 2008 2009 * nbs projection 6. 2 62 % 62 % 2018 * source : nbs. * preliminary data high and diversified fdi inflows have been quite supportive for our growth fundamentals. one reflection of their benefits is a rise in production and employment, and improvement of the structure of our economy. we expect that fdi will be one of the push up factors for our economy to growth at rates of at least 4 % in the medium term. another benefit is that they are facilitating the access to global value chains. let me give an example. additional benefit of fdis, as recognised and said already, is export diversification. according to the imf ’ s export diversification index, serbia ranks 12th out of 186 countries, and this is quite good result. with this i would like to end this part regarding the level, structure and importance of fdis. fdi inflow to automobile industry and automobile industry exports ( in eur mn ) exports, production and employment in manufacturing ( 2012 = 100 ) 1, 800 1, 600 1, 400 1, 000 production ( lhs ) productivity ( lhs ) employment ( lhs ) exports ( rhs ) 1, 200 car exports ( lhs ) exports of other companies ( lhs ) cumulative fdi inflow in automotive

year, the nbs created a stable economic environment and successfully slashed inflation, forcing the government and policy makers to face the reality. and the reality is unyielding : inflation does not create jobs, it does not push gdp up, and, perhaps most importantly, inflation has not created welfare anywhere in the world! is it then possible that, even after the devastating consequences of the 1992 - 1993 hyperinflation on the country ’ s economy, serbia has still not grasped how damaging the effects of inflation can be?
instrument in this regard. thank you for your attention! 5 / 5 bis central bankers'speeches

gent sejko : the importance of media in analysing albania ’ s monetary policy address by mr gent sejko, governor of the bank of albania, at the end - of - year meeting with the media, tirana, 20 december 2018. * * * dear ladies and gentlemen, welcome to our end - of - year meeting with the media. i would like to thank you for your readiness, objectivity, and seriousness in covering the activities of the bank of albania and informing the public about them, throughout 2018. thanks to you, our analyses and decision - making have been communicated in a thorough manner, mindfully tailored and styled in accordance with the age and profession of the targeted audience. i must note that, in addition to broad geographic coverage, your comments and analyses on the economic and financial developments in albania have been very professional. at the bank of albania, my colleagues and i maintain that the current media reality is an important part of our activity. our decision - making could not be considered complete without your contribution. communication is a vital and delicate process for a central bank. i must emphasize that, without your help and objectivity, realisation of bank of albania ’ s decision - making regarding monetary policy and financial stability would have been an impossible mission. figuratively, i would point out that you are the ones that enable the translation of our analyses and conclusions into an adequate and easy - to - understand message for the general public. you have informed the public on our actions and interventions related to monetary policy, as well as on our decisions related to financial stability, market efficiency, banking regulations and other more specific aspects. this leads us to the conclusion that the level of reporting has improved significantly, which, in turn, urges us to be more demanding of ourselves in all the arguments and analyses underpinning our decision - making. i would like to thank you for your constructive role in reporting news items related to developments in the economy, finances, money, the banking system, inflation, financial stability, as well as to the risks towards which our economy is exposed. i would also like to assure you that the bank of albania will continue to be an open and very loyal institution vis - a - vis the media. the bank of albania will be continuously open to communication with regard to the entire spectrum of economic, financial, contemporary, professional and unbiased news. dear ladies and gentlemen, it has become a tradition now for us to organise, during the end - of
- standard monetary policy instruments, such as the purchase of government bonds, is well known. however, the world keeps on turning and the debate moves on. the situation seems to be improving in the euro area. consumer confidence in december was at its highest for 18 months. unemployment is at a seven - year low. a broad - based recovery is under way – across countries and sectors. at the same time, inflation in the euro area rose significantly – from 0. 6 % in november to 1. 1 % in december. in germany inflation even stood at 1. 7 % in december. and unsurprisingly, some are calling for the ecb to put a quick end to its loose monetary policy. in terms of the desired level of inflation, it ’ s been a long, cold winter. we are now seeing the first ray of sunshine – that ’ s good. is this ray already having a warming effect and does it herald the spring? is inflation really back? perhaps one or two more rays of sunshine are needed ; they ’ ll bring a bit more warmth. higher inflation is currently being driven mainly by energy prices and they could well have only a temporary effect. what ’ s more important here is underlying inflation, from which the very volatile energy and food prices are excluded. and underlying inflation in december was just 0. 9 %, after 0. 8 % in november. this rise was largely due to the fact that package holidays became more expensive in germany. however, this does not tell us much as the prices of package holidays are always fluctuating. does this mean we still have to wait a long time before exiting accommodative monetary policy? 2 / 5 bis central bankers'speeches in my view it doesn ’ t mean waiting until the last doubt about the return of inflation has been dispelled. it is rather a matter of not risking a reaction to a temporary inflation spike – which then might lead to longer, exceptional monetary policy measures. all preconditions for a stable rise in inflation exist. i am thus optimistic that we can soon turn to the question of an exit. that ’ s why we need to be ready to act when the time comes. for loose monetary policy is like a strong medicine for someone who ’ s very sick. it works, no doubt, but it also has side effects – and some of the unconventional measures have stronger side effects than others. and while the intended benefits of these measures wear off over time, the side

were made to align the english version to the german version. 5 / 5 bis central bankers'speeches