Currencies
Venezuela State Asset Firesale Continues Amid Hard Currency Shortages
Even as Venezuela continues to get rid of its last remaining financial assets in its quest for fresh cash; analysts believe that a default in the crisis-struck nation is just a matter of time
22 Jun 2017
Latin America Credit Markets Brief: June 9 – June 22
Navistar Financial tapped the local markets – Temer denies corruption allegations – IFC is investing in Banco Industrial do Brazil – Temer received another setback in the Senate – Argentina issued a 100-year bond – MSCI snubbed Argentina – Davivienda issued a triple- tranche bond in the local markets – Chile issued a US$1.2bn bond – Panama’s inflation eased – Petroperu tapped the international…
22 Jun 2017
GCC Investors on High Alert as Qatar Feels the Heat from Neighbours
As diplomatic dispute between Qatar and its GCC neighbours continues to escalate, both sides are taking a hit amid worsening market sentiment in the region. As investors frantically survey the markets for guidance on next steps, some fundamental disagreements between the region’s powers threaten to prolong the crisis indefinitely.
16 Jun 2017
BBH: EM FX Model for 2Q 2017
Soft US data and delays to fiscal stimulus plans from the Trump administration has led to a rethink of Fed tightening expectations, while lover commodity prices continued to drive down EM currencies through much of the second quarter. Here is BBH’s’ quarterly update on foreign exchange dynamics in emerging markets.
16 Jun 2017
Brazil: The Central Bank Got It Right
Central bankers in Brazil don’t have easy lives, as shown by recent events. Just when the economy seemed to be heading in the right direction, up pops another political crisis that has increased uncertainties – particularly on the reform front. The social security reform is the main focus, due to its consequences on the government’s solvency, but monetary policy is very much in play.
14 Jun 2017
Middle East Credit Markets Brief: May 25 - June 8
GCC states break diplomatic and economic ties with Qatar – Syndicated loans in GCC at 4-year low – Saudi Aramco issues SAR285mn sukuk – NCB issues SAR1.3bn sukuk – ADWEA closes US$872mn funding package – Dana Gas prepares US$700mn sukuk – Qatar Airways secures US$300mn in mezzanine debt – Al Baraka issues maiden US$400mn sukuk – KNPC signs US$6.25bn international loan – Foreign investment in…
8 Jun 2017
Latin America Credit Markets Brief: May 26 – June 8
PRI scores a narrow victory in Mexico’s largest state – Brazil: JBS SA has the wind taken out of its sails – Argentina strikes new agreement with credit holdouts – Colombia’s Davivienda reveals big borrowing plans – Chile’s Codelco preps bond issuance – Peru, IFC mull US$2bn green bond issuance – Ecuador hits the international market – Venezuela moves to restructure debt with Russia – Uruguay…
8 Jun 2017
Nigerian Naira Sees Windows of Opportunity
Following a series of hit and miss attempts to keep the naira steady, the Nigerian Central Bank appears to have found a balanced approach to managing FX, but it may still be too clunky for foreign investment to flow.
5 Jun 2017
Interview with Andy Cairns, Group Head of Corporate Finance, First Abu Dhabi Bank (FAB)
In an exclusive interview with Bonds & Loans, Andy Cairns, Group Head of Corporate Finance, First Abu Dhabi Bank (FAB) talks about the normalisation of fundraising in the MENA region in 2017 after a record year of credit market activity the previous year.
30 May 2017
Political influence Threatens Turkey’s Ability to Control Inflation
As Turkey’s inflation rate surges to levels not seen since the 2008 financial crisis, it will be up to the Central Bank not only to control rising prices, but to break free from political interference.
25 May 2017