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Policy & Government

IMF Approves USD274mn Support Package to Paraguay

The IMF’s Executive Board has approved a USD274mn emergency support package for immediate disbursement to Paraguay in order to alleviate the economic shock caused by COVID-19.

23 Apr 2020

Land Bank Potentially Triggers Default

South African government-owned Land Bank may have triggered a default under the terms of its ZAR30bn domestic medium-term note (DMTN) programme after failing to make a payment on a revolving credit facility (RCF), despite previously reporting a strong liquidity profile.

22 Apr 2020

South Africa’s ZAR500bn Fiscal Bazooka Risks “Chasing a Growing Hole”

South African President Cyril Ramaphosa unveiled a ZAR500bn (approx. USD26.5bn) fiscal support package this week in a bid to help ease some of the economic pressures caused by the spread of COVID-19 and the lockdown designed to contain it. Analysts say South Africa, which was already in a precarious fiscal position before the lockdown began, was right to jump off the fiscal cliff – but now risks…

22 Apr 2020

Chile, Colombia Enlist Banking Sector to Help Channel Relief for Businesses and SMEs

The Andean nations are relying on banks to help disburse pandemic support packages into the wider economy – but will near-zero interest rates feed through to borrowers?

21 Apr 2020

China Registered Negative Quarterly Growth for the First Time in 40 Years

China’s economy contracted for the first time in nearly 40 years due a coronavirus-inflicted slowdown through the first quarter of this year, although green shoots have started to emerge in March.

21 Apr 2020

IMF Debt Relief Programmes May Lead to More Defaults in Private Sector – Moody’s

This week the IMF announced plans to provide USD500mn in debt relief to some of the world’s poorest countries under its Catastrophe Containment and Relief Trust. All countries eligible for concessional financing from the World Bank are targeted by the G7’s debt service payments.

20 Apr 2020

RBI Announces New Policy Measures to Aid FIs

This week the Reserve Bank of India (RBI) announced a new set of policy measures to curb the impact of coronavirus on Indian markets. Suyash Choudhary, Portfolio Manager at IDFC Mutual Fund believes the policy measures announced “will serve to ease financial conditions at the margin.”

20 Apr 2020

Foreign Investors Flock Back into Government Bonds as Russia’s Central Bank Ponders Rate Cut

Though down from the levels seen in early March, the share of foreign investors in Russian sovereign bonds stayed above 30% as juicy yields, calming global markets and a dovish outlook at the CBR attracted foreign buyers.

20 Apr 2020

OPEC Deal will Reduce Uncertainty for Saudi Arabia but Macro Will Pay a Heavy Price – Goldman Sachs

An historic deal between OPEC+ and the G20 last weekend may not be sufficient to lift oil prices materially in the near term given the scale of decline in global demand for oil, according to research from Goldman Sachs.

19 Apr 2020

ASEAN Green Bond Issuance Jumped 50% in 2019

Across ASEAN, 2019 was a big year for green bonds with issuance rising over 50% to reach a total of USD258bn, according to a report from HSBC and the Climate Bonds Initiative (CBI). But clear disparities remain between countries, with Singapore increasingly dominating the issuance pipeline.

17 Apr 2020

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