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Policy & Government

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

Emerging Markets to See More Than US$1tn in Inflows in 2018

Total non-resident inflows into emerging market debt and equities are forecast to swell 35% over 2016 volumes, touching US$970bn in 2017, and could pass the US$1bn mark by 2018 – the highest level since 2014, according to the IIF.

7 Jun 2017

India’s Dodgy Debt Due to Linger Longer

Strengthening the Reserve Bank of India’s hand in resolving the country’s US$150bn distressed asset problem is a step in the right direction, but anyone looking for a quick-fix is in for a rude awakening: it’s going to get worse before it gets better, analysts suggest.

6 Jun 2017

It’s Time to Show Who We Are

Economists don’t have crystal balls. We construct scenarios and evaluate whether or not our premises are correct. An important premise adopted last year was that Michel Temer would have sufficient support in Congress and among the productive sector to carry out the necessary reorientation of the economic agenda. He would manage to fill out his term despite the risks because the judiciary would…

5 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

Sanctions Trump Election Optimism for Potential Investors in Iran

While the partial lifting of US sanctions and President Rouhani’s recent re-election gave a boost to one of Middle East’s most promising economies, the uncertainty of Trump’s policy going forward means that Western FIs are still cautious about moving into the new market.

1 Jun 2017

In Brazil, The Real Estate Sector is Under Price Pressure – From Banks

Due to a toxic combination of regulations, a challenged banking sector and a strained real economy, Brazil’s real-estate sector seems to be feeling downward price pressure from an unlikely candidate – the country’s banks. The curious dynamic has created new opportunities in distressed assets, however.

30 May 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

Latest Twist in Corruption Saga Threatens to Undermine Brazil's Reform Agenda

New accusations and an incriminating audiotape have piled heat on president Temer and put his reforms agenda in doubt. But whatever the short-term outcome of the latest scandal, the market’s demand for Brazilian debt remains strong, argues Ashmore’s ‎Head of Research Jan Dehn.

24 May 2017

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