Angolan President Jose Eduardo dos Santos dismissed Armando Manuel as Finance Minister this week according to Angola's state-run news agency. The move comes after the country reportedly refused a US$4.5bn bailout from the IMF in June. Over the past year the country's fundamentals have weakened significantly, due largely to declining oil revenues.
Urjit Patel took the helm at the RBI this week as Raghuram Rajan, the Central Bank's former governor, stepped down. Patel, a known inflation hawk, is overseeing the transition to an interest rate setting panel tasked with hitting inflation targets.
New research from JP Morgan suggests emerging market corporates payed back more hard currency debt than they borrowed this year. The bank estimates US$220bn will be issued by EM corporates this year, shy of the US$241bn that it expects to be repaid to bondholders.
Brazil's Car Wash Scandal has reportedly expanded as the country’s police raided the offices of J&F Investimentos (J&F) and pulp & paper producer Eldorado Brasil. Prosecutors alleged they have evidence that Brazilian pension funds illegally invested money in Eldorado.
The Central Bank of Malaysia is expected to cut rates by 25bp to 3% this week in the bank's second rate cut since 2014.
Xi'an Municipal Infrastructure Construction Investment Group issued a benchmark sized 3-year dollar bond on Friday. Bookrunners on the trade were CEB, DBS Bank, ICBC and Shanghai Pudong Development Bank.
China PMI surprised this week, hitting 50.4, above consensus estimates of 49.8 and the largest number since October 2014.
Turkish CPI declined in August to 8.05% year-on-year from 8.79% as food prices started dropping in line with the Central Bank's expectations.
Russian CPI dropped to 6.9% year-on-year from 7.2% the previous month, with the largest drops seen in services and non-food prices.