The Deutsche Bundesbank and the Banque de France, six national central banks of the European System of Central Banks (ESCB) and the European Central Bank (ECB) have today launched a programme funded by the European Union (EU) with the aim of contributing to the macroeconomic and financial stability of African countries.

This study examines the costs incurred by the use of cash and cashless payment methods in brick-and-mortar retail and related industries.

“Over time, the IMF has repeatedly managed to emerge stronger from crises. However, the external circumstances have rarely been more challenging than they are today,” Federal Finance Minister Christian Lindner and Bundesbank President Joachim Nagel write in a guest article at Handelsblatt. “An IMF that focuses on its core mandate is best placed to strengthen the global economic and monetary system,” they explain in a contribution to mark the IMF’s 80th anniversary. 

Real gross domestic product will probably decline again slightly in the first quarter of 2024, according to the March Monthly Report. The economy continues to experience headwinds from various directions. Domestic and foreign demand for German industrial products went down further. In addition, higher financing costs dampened domestic demand. Moreover, the available survey indicators still provide little evidence of an economic recovery for the coming quarter. 

Bundesbank President Jens Weidmann has spoken out in favour of making the rules on debt more binding. "It would be helpful for the rules of the Stability Pact to be simplified," he said in a speech delivered in Freiburg. Furthermore, Mr Weidmann added, a more rigorous interpretation of the rules could be achieved by giving responsibility for fiscal surveillance to an independent authority instead of the European Commission.