Policy & Government
Credit Growth in Mexico Stays in Single-Digit Territory for Ninth Straight Month
Credit growth in Mexico in January hit 5.3% in nominal terms and 2% in real terms according to the latest data published by the Bank of Mexico, making it the ninth straight month of single-digit private sector credit growth on record and adding to a growing and worrying list of indicators signalling an economic slowdown.
9 Mar 2020
On the Ground and Off the Record: What Will Drive the Infrastructure Sector in Saudi Arabia This Year?
The year ahead looks to be a busy one for Saudi Arabia. A strong project pipeline will provide opportunities for many inside and outside the country, but the sheer scale and complexity of these will test the market, according to bankers, corporates and investors who spoke with Bonds & Loans on a recent research trip to the region.
6 Mar 2020
India to Counter Impact of Coronavirus Through Renewed Credit Growth – IDFC Mutual Fund
The Fed’s decision to cut rates on Tuesday by a further 50bps in response to the coronavirus marked the latest in a series of strong policy responses from monetary authorities and governments worldwide. According to Suyash Choudhary, Head of Fixed Income at IDFC Mutual Fund, India looks likely to follow the US in utilising additional fiscal and monetary measures.
5 Mar 2020
Russian Government Issuance Surged in 2019, RUB and Hard Currency Bond Yields Diverge
Demand for government notes grew 1.5x from 2018, but was outpaced by more than 3x increase in supply, according to official state figures.
4 Mar 2020
IMF Marks “Good Progress” in Ukraine Visit, but More Reforms Needed
The International Monetary Fund said this week that it had made good progress in talks with the Ukrainian authorities over the approval for a new loan programme to Ukraine worth USD5.5bn but its disbursement depends on Kiev’s performance on reforms, including a special law on banking.
3 Mar 2020
Risk of Oil Price Collapse ‘High’ as Russia Urges Caution on OPEC+ Action - Standard Chartered
Russia’s slowness to respond to a fall in demand for oil following the coronavirus outbreak could send oil prices plummeting to as low as USD30 per barrel, according to analysts at Standard Chartered Bank.
2 Mar 2020
As Oil Plummets, Pemex Seeks to Shore Up Finances with Braskem Idesa Contract Renegotiation
Mexico’s president, who famously scrapped the partially-completed New Mexico Airport project, is similarly intent on cancelling the oil giant’s contract, which he feels was signed under unfavourable terms. What that will mean for Pemex’s credit – and for the already souring investor sentiment around Mexico – is another question.
29 Feb 2020
Impact of Coronavirus Begins to Show in Economic Data
As the coronavirus continues to spread, with novel cases being reported in countries across the world almost daily, its impact is beginning to become evident in economic data.
28 Feb 2020
South Africa Budget: Huge Wage Bill Cut Raises Credibility Issues, Questions Over Fiscal Health
South Africa’s recently-revealed 2020 budget review contained a series of ambitious pledges designed to win over markets and restore public sector finances, including a ZAR160bn in cuts to public wages over three years, but analysts say the move raises credibility issues and likely sets the stage for a battle with the nation’s powerful unions.
28 Feb 2020
Tadawul & IHS Markit Launch Saudi Government Sukuk Index
Tadawul and IHS Markit have partnered to launch the iBoxx Tadawul SAR Government Sukuk Index dedicated to tracking riyal-denominated government sukuk, a move the may enhance liquidity in the sector.
27 Feb 2020