Macro
Conducive Macro Backdrop Bolstered Rwanda’s Financial Sector in 2019 – Central Bank
Rwanda’s financial sector enjoyed healthy growth throughout 2019, whilst key metrics indicate that the banks remain well capitalised and non-performing loans (NPLs) are continuing to fall, according to a recent note from the Financial Stability Committee at the National Bank of Rwanda.
21 Feb 2020
Turkey Delays Structural Reforms in Favour of Credit Fuelled Recovery – Chatham House
Despite a strong recovery since the economic crisis of 2018, Turkey is not out of the woods yet. Binging on cheap credit may have pulled the economy out of recession for now, stimulating key sectors and driving consumption, but it leaves the lira vulnerable, according to a recent report by Fadi Hakura, Turkey Specialist and Manager of the Turkey Project at Chatham House.
20 Feb 2020
Angola’s Minister of Finance on Privatisations, Following Through on Free Trade, and Managing the Tricky Balance between Economic Diversification and Oil Dependence
While João Lourenço’s government continues to dominate the headlines - for highly visible corruption indictments against his predecessor José Eduardo dos Santos, his family, and associates - Vera Daves de Sousa, Angola’s young and resolutely optimistic Minister of Finance, is working hard behind the scenes to chart a more financially sustainable path for the country following years of economic…
13 Feb 2020
Securitisations Could Help South Africa-Based Financials Overcome Ratings Challenges and Liquidity Issues
South African lenders could lean on securitisations to help address credit ratings pressures and a lack of liquidity in the banking sector, but key bottlenecks need to be addressed by regulators before the sector can really take advantage of them, according to Gill Raine, a senior policy advisor at The Association for Savings & Investment South Africa (ASISA) and veteran banker.
12 Feb 2020
Latin America 2020: The Good, The Bad, and The Ugly
Take a good look at Latin America’s 21 countries today, and one quickly concludes that this is not a region moving in unison but rather a patchwork of divergent political and economic motors firing at different speeds, taking each in different directions. Rarely has it been this challenging to analyze Latin America as a whole, so it seems appropriate to showcase Latin America’s differences…
11 Feb 2020
Prospect of Early Romanian Election Sparks ‘Benevolent’ Market Reaction – ING
A successful no-confidence motion against Romania’s government has raised the prospect of early elections and may usher in a period of political instability, but the market has reacted relatively well according to ING emerging market strategist Trieu Pham.
7 Feb 2020
Risk-Off Sentiment ‘Relatively Limited’ in Response to Coronavirus – Blackrock
As a growing number of cases of coronavirus are confirmed outside of China markets have become shaky.
6 Feb 2020
Eastern European and Turkish Bond Market Activity Picks Up, Driven by Bank Issues
An FI bond’s record price tightening, a new issuer from the CIS, a USD-denominated perp from a major Russian lender and three Turkish issues have blown the CEEMEA bond markets wide open.
5 Feb 2020
Twin Deficits Leaves ZAR vulnerable – Standard Bank
Over the past week the rand has weakened as the global coronavirus outbreak causes markets to jitter. The rand is particularly vulnerable due to the country’s twin deficits – both current and fiscal – being run by the government, which “both compare poorly in the global context” according to a recent report by Standard Bank.
5 Feb 2020
African Exchanges are Key to Developing the Region’s Capital Markets, but Most Remain Illiquid
Africa’s securities exchanges have long been seen as a pivotal part of the development of the region’s capital markets, but a lack of liquidity blended with rapidly changing borrower and investor preferences is holding public markets back.
4 Feb 2020