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Bips & Pieces

EM External Debt Benefiting from ‘Delightful Diversification’ - Ashmore

Despite a number of high-profile periods of volatility in 2019, it was a strong year for emerging market external debt, argues Jan Dehn, Head of Research at Ashmore Asset Management. Boasting returns of 15%, the asset class is reaping the rewards of growing credit quality and increased diversification.

10 Jan 2020

LatAm NBFIs See Increased Funding, Liquidity Risk Amid Downturn – Fitch

Funding and liquidity will remain challenging to Latin America’s non-bank financing institutions (NBFIs) amid continued economic and political uncertainty on the continent, Fitch Ratings warned in a note to investors.

10 Jan 2020

Colombia’s Tax Law Passed by Congress, Faces Final Hurdle in Courts

Dubbed “Growth Law”, the controversial legislation could indeed boost the economic expansion, but comes with a number of caveats, BBVA analysts warn.

9 Jan 2020

Stellar Emerging Market Debt Returns “Unlikely to be Replicated in 2020” – M&G

The stellar returns produced by emerging market debt in 2019 are unlikely to be replicated in 2020, according to Claudia Calich, Head of Emerging Market Debt at M&G Investments.

9 Jan 2020

China’s Economy to Grow Above 6% in 2020 – Standard Chartered

China’s economy is forecast to grow at a rate of 6.1% in 2020, according to Standard Chartered – 0.2% higher than the average market prediction of 5.9%.

9 Jan 2020

Sharia-Compliant Real Estate Lender Amlak Within Touching Distance of Debt Restructuring

Specialized Islamic real estate financier Amlak Finance PJSC has said it managed to agree credit restructuring terms with about 95% of its existing creditors, putting it within touching distance of finalising its second restructuring in five years.

9 Jan 2020

Multinationals to Shift Supply Chains out of China in 2020 – MUFG

As the global multinational corporate supply chains shift under duress of ongoing Washington-Beijing trade war, production lines will increasingly move out of China in 2020, which will a “big, necessary, but inherently difficult process,” the international bank explained in a 2020 outlook report.

8 Jan 2020

GCC Sovereigns Could Face Challenging 2020 As They Shift Further into Uncharted Geopolitical Territory

Following a year marked by numerous tanker incidents in the Straits of Hormuz and a brazen attack on Saudi Aramco’s oil infrastructure, a recent escalation in geopolitical tensions between the US, Iran and Iraq could start to reverse the strong technicals-driven performance increase seen amongst GCC sovereign credit in 2019, according to analysts at Standard Chartered.

8 Jan 2020

Dubai Eyes Expansionary 2020 Budget but Investment Spending to Drop

The Dubai government is looking to boost spending strongly in 2020 in a bid to stimulate the economy, with the sharp up-tick in spending growth set to be driven mainly by wage increases, administrative grants, and financial support. Higher fees and VAT appear likely to drive the bulk of additional revenue generation. Investment spending, meanwhile, looks set to decline.

8 Jan 2020

Severity of 2019 Slowdown in India 'Exceeded All Expectations"– IDFC Mutual Fund

Following a year of falling growth for India, Suyash Choudhary, Head of Fixed Income at IDFC Mutual Fund, reflects on some of the economy’s challenges.

7 Jan 2020

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