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Bips & Pieces

Gold Prices Surge Due on Pandemic Disruption

The ongoing volatility caused by the COVID-19 pandemic has seen the price of gold become dislocated, as it has avoided becoming victim to the demand shocks that have hit the price of other commodities.

4 May 2020

Peru Plans to Raise Additional USD4bn from Bond Markets to Fight Coronavirus Pandemic

Peru is in the process of planning at least one more outing in the debt capital markets to raise fresh funding in order to finance measures aimed at containing the economic fallout from the coronavirus pandemic.

4 May 2020

Fall in SAMA Assets Exceeds Expectations - HSBC

Saudi central bank reserve assets fell by around USD24bn in March, according official data. Accounting for non-reserve holdings, net foreign assets fell by just under USD27bn throughout the month.

4 May 2020

Aramco Appears Well-Placed to Weather the COVID Storm, Analysts Say

Plummeting oil prices resulting from a drop-off in global demand and a simmering price war with Moscow has put a severe strain on Saudi Aramco’s balance sheet in the short-term. But in looking further ahead, the company appears well-placed the weather the current storm.

1 May 2020

With Fiscal Gaps Widening, Analysts See Romania Risking its Coveted Investment-Grade Status

As budget gaps widen to historical highs, Romania, one of Eastern Europe’s most frequent bond issuers, is at risk of losing its coveted investment-grade status, potentially hampering the country’s ability to satiate its growing need for funding.

1 May 2020

Costa Rica, Dominican Republic Given Emergency Lifeline by the IMF

The IMF has accelerated coronavirus-related disbursements of emergency funding to Latin America, with both Costa Rica and the Dominican Republic securing crucial financial assistance from the Fund.

30 Apr 2020

Emerging Europe Shifts from Dollars to Euros for Credit

Last year saw euro-denominated credit overtake US-dollar denominated credit for emerging European economies, standing at EUR377bn by end-2019, according to data from the Bank for International Settlements (BIS). The growth of euro-denominated credit outside the euro area slowed by 6% overall, however.

30 Apr 2020

Coronavirus Prompts UK Market Watchdog to Extend LIBOR Replacement Deadline

The UK Financial Conduct Authority (FCA) has extended the deadline for ending the use of the London Interbank Offered Rate (LIBOR) for new loans until the end of March next year in a bid to give borrowers and banks more breathing room as the market migrates to the Sterling Overnight Index Average (SONIA).

30 Apr 2020

COVID-19 Poses Severe Threat to South Africa’s Banking Sector - Fitch

The pandemic poses ‘significant downside risks’ to South African banks, according to Fitch Ratings, as asset quality and earnings face downward pressure.

30 Apr 2020

India Gets USD1.5bn From ADB to Finance COVID-19 Response as Domestic Borrowing Picks Up

The government of India has secured a USD1.5bn loan from the Asian Development Bank (ADB) to help fund its response to the COVID-19 pandemic, which has weighed heavily on the country’s growth prospects.

29 Apr 2020

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