Bips & Pieces
Coronavirus Could Weigh on Nigeria’s Ability to Secure Crucial Loans from China, Protect Fiscal Revenues – SBM
The coronavirus outbreak currently plaguing global markets may harm Nigeria’s ability to secure Chinese loans needed to fund the 2020 budget, while also weighing on trade and oil revenues, according to a research note from SBM Intelligence.
25 Feb 2020
Appealing Risk-Return Profile Pushing Green Bonds into Mainstream – NN Investment
Market data suggests the asset class shows (still) higher volatility but also higher returns in Euro market as investors increasingly choose to go “green”.
25 Feb 2020
Uruguay on Negative Watch amid Sluggish Growth and Fiscal Concerns – Fitch
In its latest assessment the ratings agency warns elevated public debt is driven even higher as the new coalition government comes into office.
24 Feb 2020
Kenya Bankers Association Questions Efficacy of Rate Cuts
Following a recent meeting of the Monetary Policy Committee (MPC) in January, the Central Bank Rate was cut for the second time since November 2019 from 8.5% to 8.25%. A recent note from the Kenya Bankers Association Centre for Research on Financial Markets and Policy has questioned whether this will be able to boost credit growth.
24 Feb 2020
IIF: Frontier Market Debt, Driven by Government Borrowing, Hit New All-Time Highs in 2019
Rising budget deficits are a cause for concern, particularly as climate-related risks accumulate, the IIF warned in its latest report.
24 Feb 2020
Total Capital Markets Financing in Argentina Jumps 276% YoY in January 2019
An increase of 65% was recorded in January compared to the previous month, according to CNV.
24 Feb 2020
Conducive Macro Backdrop Bolstered Rwanda’s Financial Sector in 2019 – Central Bank
Rwanda’s financial sector enjoyed healthy growth throughout 2019, whilst key metrics indicate that the banks remain well capitalised and non-performing loans (NPLs) are continuing to fall, according to a recent note from the Financial Stability Committee at the National Bank of Rwanda.
21 Feb 2020
Brazil Delays Administrative Reforms Again, According to Local Press
An administrative reform package that was to be sent to Brazil’s lower house yesterday has been delayed, according to a report in local press, an ominous sign for more ambitious reforms due to be introduced.
21 Feb 2020
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