Bips & Pieces
Private Debt Fundraising Hits Four Year Low – Preqin
The total volume of private debt raised was 41% lower in 1Q2020 compared with a year prior – the worst quarter for the asset class since 3Q2016, and a sign that the asset class has not escaped the current market volatility totally unscathed.
15 Apr 2020
Eurochem Scraps Eurobond in Favour of New Rouble-Denominated Issuance
The company was forced to pull its latest international bond issuance after a roadshow in London as market sentiment deteriorated rapidly, and is now seeking to tap the rouble market instead.
14 Apr 2020
ADB Triples COVID-19 Response Funding with USD20bn, Accelerates Disbursements
The Asian Development Bank (ADB) said this week that it has tripled the amount of funding it plans to provide to member countries as they seek to contain the human and economic fallout from the COVID-19 pandemic.
14 Apr 2020
IMF Approves USD422mn for Senegal to Help Address COVID-19
The International Monetary Fund (IMF) has approved two new facilities totalling SDR323.6mn in financial aid for Senegal in a bid to help the West African country support its balance of payments needs stemming from the COVID-19 pandemic.
14 Apr 2020
Pandemic to Squeeze Margins at GCC Banks – S&P
The COVID-19 pandemic combined with the subsequent slump in oil prices is a particularly dangerous combination for GCC economies given the region’s exposure to commodity prices. According to a report from S&P, the region’s banks face an earnings shock, with a notable slowdown in credit growth and higher risk premiums – although other key metrics remain strong.
14 Apr 2020
Additional Stimulus Measures Announced as Colombia Extends Nationwide Quarantine by Two Weeks
Despite the severe damage dealt to the fiscus from the global and local economic slowdown, a slower-than-expected spread of the virus in Colombia has provided much needed respite.
9 Apr 2020
Sovereigns, High-Grade Corporates to Drive Debt Capital Markets Revival in Latin America
Latin American markets have been among the hardest hit by the current global downturn even as many of these economies are only at the early stages of the coronavirus outbreak. But a stabilization in global equity and bond markets will prompt sovereigns and the stronger corporate credits to return.
9 Apr 2020
With No Sign of Oil Prices Rising Anytime Soon, Stability in the Gulf is Likely to be Tested
As revenues slump and deficits soar, analysts are growing increasingly concerned about some of the Gulf’s more vulnerable economies.
9 Apr 2020
Global Debt Soars 40% Since 2008 as Pandemic-Hit Nations Fire Up Fiscal Stimulus
A lightning fast shift from tentative attempts to stem budget deficits across the developed world post-2008 to an all-out fiscal bazooka over recent months has seen debt levels skyrocket to more than 320% of global GDP.
9 Apr 2020
Inflation Slows in Hungary, But Full Impact of COVID-19 Not Yet Evident – ING
As the lockdown continues in Hungary, the impact on the economy is beginning to filter into the data, with inflation slowing to 3.9% in March. Whilst food prices provide upward pressure in the short-term, the falling cost of fuel and services has yet to be accounted for in this month’s statistics, according to Peter Virovacz, Senior Hungary Economist at ING
9 Apr 2020