Policy & Government
IMF Approves USD422mn for Senegal to Help Address COVID-19
The International Monetary Fund (IMF) has approved two new facilities totalling SDR323.6mn in financial aid for Senegal in a bid to help the West African country support its balance of payments needs stemming from the COVID-19 pandemic.
14 Apr 2020
Pandemic to Squeeze Margins at GCC Banks – S&P
The COVID-19 pandemic combined with the subsequent slump in oil prices is a particularly dangerous combination for GCC economies given the region’s exposure to commodity prices. According to a report from S&P, the region’s banks face an earnings shock, with a notable slowdown in credit growth and higher risk premiums – although other key metrics remain strong.
14 Apr 2020
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM and risk assets rallied last week, due in large part to increased Fed stimulus as well as plans by OPEC+ to cut oil production. This really may carry over into this week and yet when all is said and done, the global economy won’t avoid recession and the economic numbers are likely to worsen significantly before they get better.
13 Apr 2020
Additional Stimulus Measures Announced as Colombia Extends Nationwide Quarantine by Two Weeks
Despite the severe damage dealt to the fiscus from the global and local economic slowdown, a slower-than-expected spread of the virus in Colombia has provided much needed respite.
9 Apr 2020
With No Sign of Oil Prices Rising Anytime Soon, Stability in the Gulf is Likely to be Tested
As revenues slump and deficits soar, analysts are growing increasingly concerned about some of the Gulf’s more vulnerable economies.
9 Apr 2020
Inflation Slows in Hungary, But Full Impact of COVID-19 Not Yet Evident – ING
As the lockdown continues in Hungary, the impact on the economy is beginning to filter into the data, with inflation slowing to 3.9% in March. Whilst food prices provide upward pressure in the short-term, the falling cost of fuel and services has yet to be accounted for in this month’s statistics, according to Peter Virovacz, Senior Hungary Economist at ING
9 Apr 2020
Qatar Reopens GCC Capital Markets with USD10bn Trade as Other Sovereigns Consider Raising Funding
Qatar has returned to the capital markets with the sale of a USD10bn Eurobond, marking the latest issuance from EM sovereigns returning to the markets.
8 Apr 2020
CFOs and Investors Say AMLO Administration Needs to Build Mexico’s Story in its “Second Season”
Investors and CFOs attending an exclusive roundtable discussion organized by Bonds & Loans and HSBC on the sidelines of the Bonds, Loans & Derivatives Conference in Mexico City in February expressed cautious optimism about the economy in 2020, noting that early successes found in the government’s strong fiscal discipline and its successful negotiation of the USMCA could become the building blocks…
8 Apr 2020
Russian Regions Squeezed by Rising Borrowing Needs, Soaring Debt Costs
Over the past two years the sub-sovereign bond market has been largely stagnant, but as budgetary constraints force regional issuers to tap the bond markets, rising costs of debt will act as an impediment.
8 Apr 2020
Analysts Revise Kenyan GDP Growth to 4.3% for 2020
Kenya’s economy, like many of its peers on the continent, is being hit hard by the COVID-19 pandemic, with analysts revising the country's growth prospects downward.
8 Apr 2020