Treasury Sanctions Persons for Role in Undermining Zimbabwean Democracy.
On April 17th, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a Zimbabwean government official – Tobaiwa Mudede, an Angolan businessman – Sam Pa, a Singaporean attorney – Jimmy Zerenie, and a Zimbabwe-based entity – Sino Zim Development (Pvt) Ltd., for their roles in undermining Zimbabwe’s democratic processes and institutions or facilitating public corruption through support to the Government of Zimbabwe, senior government officials, and/or Specially Designated Nationals (SDNs). Zimbabwean Designations.
Additional Designations for Contributing to the Situation in Ukraine
On April 11th, OFAC designated seven Crimean separatist leaders and Crimea-based gas company Chernomorneftegaz for undermining democratic processes or institutions in Ukraine and other actions that contribute to the instability of that area. Ukraine Designations.
$1 Billion U.S. Loan Guarantee for Ukraine
On April 14th, Secretary Lew announced the signing of a $1 billion loan guarantee agreement for Ukraine to complement Ukraine’s IMF reform program. The bilateral assistance package also includes technical assistance to help Ukraine return to a path of economic recovery. Loan Guarantee.
Semi-Annual Report to Congress on International Economic and Exchange Rate Policies
On April 15th, Treasury released its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies which, among other things, concluded that no countries are currently manipulating currency exchange rates. Treasury Press Release. Report.
Treasury Office of Financial Research Working Paper
Competition in Lending and Credit Ratings. On April 16th, Treasury’s Office of Financial Research and the Federal Reserve Board jointly released a Working Paper on Competition in Lending and Credit Ratings. The article relates corporate credit rating quality to competition in lending between the public bond market and banks. Working Paper.