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Bips & Pieces

South Africa Saw Record Bond Issuance in 2019 Despite Lacklustre Economy

Debt issuance in South Africa reached 10-year highs in 2019 despite the economic and political volatility that punctuated much of the year, with bond volumes totalling ZAR164.82bn (approx. USD10.9bn) according to data collected by Nedbank.

21 Feb 2020

IMF Warns Argentina Bond Holders That Haircuts May be "Unavoidable"

The Fund held a series of “productive” meetings with Argentine officials in Buenos Aires, commending the overall efforts to restore growth and reduce poverty, but signalled that write-offs will be inevitable.

20 Feb 2020

Dar Al Arkan Sees Strong Demand for USD400mn Sukuk

Saudi-based real estate developer Dar Al Arkan raised USD400mn this week, selling 7-year sukuk in the first deal out of the Kingdom since the sovereign and Samba group hit the market in January.

20 Feb 2020

Kenya Announces Plans to Streamline Building Approval Processes

Kenya’s Principal Secretary for Housing & Urban Development, Charles Hinga, announced plans this week to harmonise building fees and approval processes for buildings throughout the country. The move is intended to cut costs for developers, spur the growth of affordable housing, and stimulate investor participation in the sector.

20 Feb 2020

Turkey Delays Structural Reforms in Favour of Credit Fuelled Recovery – Chatham House

Despite a strong recovery since the economic crisis of 2018, Turkey is not out of the woods yet. Binging on cheap credit may have pulled the economy out of recession for now, stimulating key sectors and driving consumption, but it leaves the lira vulnerable, according to a recent report by Fadi Hakura, Turkey Specialist and Manager of the Turkey Project at Chatham House.

20 Feb 2020

Standard Chartered Kenya Launches Mobile Bond Trading Service

Standard Chartered Kenya has launched a bond trading service via its app, SC Mobile App, allowing customers to trade local currency government bonds through their mobile devices.

19 Feb 2020

Monetary Policy Alone Cannot Support Growth in South Africa - Standard Bank

While inflation is edging up incrementally in January, more pro-growth reforms are urgently needed as a downgrade by Moody's looms.

18 Feb 2020

South Africa’s Mining Sector Production Continues to Fall – Standard Bank

South Africa’s mining sector suffered a drop in production during 2019, following an equally disappointing performance in 2018, according to a report from Thanda Sithole, an economist at Standard Bank. Production fell by 1.4% year-on-year in 2019, after a 1.9% decline in 2018.

18 Feb 2020

Russian Government Reshuffle Spreads to MinFin as Another Key Minister Set to Leave

Storchak, a veteran of the finance ministry is expected to resign in coming days, according to state media reports.

18 Feb 2020

Global Growth Forecast Marked Down Amid Lingering Coronavirus Threat – Moody’s

The ratings agency expects G-20 economies to grow at just 2.4% in 2020, with a pick-up to 2.8% next year.

17 Feb 2020

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