Bips & Pieces
Chile Likely to Get USD23.8bn Flexible Credit Line from IMF
IMF Managing Director Kristalina Georgieva is likely to approve Chile’s request for a USD23.8bn flexible credit line from the Fund, it said in a statement.
13 May 2020
Equate, Mubadala Sell Bonds in Busy Week for Gulf Markets
A fresh wave of bond deals out of the GCC has buoyed investor sentiment around a region hit hard by the coronavirus pandemic.
13 May 2020
Egypt Gets USD2.77bn from IMF as Coronavirus Bites
The International Monetary Fund (IMF) has approved a USD2.77bn loan for Egypt to help finance a rapid rise in healthcare spending linked to containing the spread of coronavirus.
12 May 2020
South Africa Details Rise in Government TB Auctions
The National Treasury announced a step-up in local currency borrowing in the form of South African Government Bills (SAGB) and inflation-linked bonds (ILB). But according to Peter Attard Montalto, Head of Capital Markets Research at Intellidex, additional government borrowing in the mid- to long-term may become unsustainable.
12 May 2020
RBI to Increase Borrowing, But Unclear How Else Government Will Raise Funds
The Reserve Bank of India (RBI) is upping its borrowing requirements by more than 53% to INR12tn for the financial year, but it's unlikely to be enough to finance the government's ambitious stimulus programme.
12 May 2020
Avianca Bankruptcy an Ominous Sign for Other Regional Carriers
Colombia-based Avianca has filed for bankruptcy protection in New York after a halt in global travel due to the coronavirus pandemic ate up more than 80% of its revenues.
11 May 2020
Saudi Arabia Announces VAT Increase, Suspends Cost of Living Allowances for Public Servants
Saudi Arabia announced additional measures this week to prevent the country’s deficit from spiralling out of control in the wake of a steep drop in the price of oil and a fall-off in economic activity.
11 May 2020
Grupo Energia Bogota (GEB) Plans Fresh Bond Issue
Bogota’s government-owned energy distributor Grupo Energia Bogota (GEB) is planning to raise as much as USD400mn in the international capital markets.
11 May 2020
Sustainable Bond Issuance Falls, But Social Bonds on the Rise – Moody’s
Total volumes of sustainable bond issuance are set to fall as the COVID-19 pandemic creates a rocky environment for borrowers, according to Matthew Kuchtyak, AVP-Analyst at Moody’s. Sustainable bond issuance is likely to total USD325bn this year, a downward revision of USD75bn from the USD400bn forecast previously.
11 May 2020
Kenya, Uganda Score IMF Funding in Boost for COVID-19 Response
The International Monetary Fund (IMF) approved rapid disbursements of emergency funding for Kenya and Uganda this week to help the East African nations finance measures to address the COVID-19 pandemic.
7 May 2020