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Coronavirus

Emerging Market Corporate Debt Slower to Recover than DM Bonds After Liquidity Crunch

Among the highest capital outflows on record from emerging economies resulted in huge liquidity shortages and price corrections, but the recovery is taking longer than some hoped.

22 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

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

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

Vive Energia: ‘In Times of Crisis, All You Can Do is Push Ahead’

Vive Energia, a Renewable Energy Development Company and Consulting Firm, is going ahead with a number of wind and solar energy projects across Mexico, even as volatility engulfs global markets and liquidity drains out of EM assets. Jose Antonio Aguilar, Principal at Vive Energia, talks about pros and cons of project financing, the idiosyncratic challenges of the energy sector in Mexico and the…

17 Apr 2020

Ecuador Shows Why Investors Should Engage in ‘Consensual’ Solutions to COVID Crisis - Ashmore

Ecuador, like many EM countries, has been shaken by a toxic cocktail of coronavirus, crashing oil prices and restricted access to financial markets. But according to Jan Dehn, Head of Research at Ashmore, Ecuador’s approach to dealing with the crisis – defined by pro-active engagement with creditors – is one others in the market should learn from.

17 Apr 2020

As Latin America Hunkers Down to Tackle Coronavirus, How Vulnerable is Brazil?

Latin American countries are hunkering down amidst an escalating pandemic, testing the resilience of businesses, banks, and investors, with many observers sharply focused on how one of the region’s largest economies – Brazil – will weather the storm.

16 Apr 2020

Emerging Market Debt Outlook Improves as Investors Sharpen Focus on Fundamentals

The asset classes took a battering from the pandemic and related economic turmoil over the past few weeks, but low valuations are looking very inviting at the moment.

16 Apr 2020

Sukuk Issuance to Plummet in 2020 – S&P

A toxic cocktail of low oil prices and widespread disruption caused by the COVID-19 pandemic looks set to severely inhibit sukuk issuance in 2020, according to a recent report from S&P.

15 Apr 2020

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