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The Turkish lira continues to tumble. This feels like a rerun of the last lira crisis back in August 2018. Surprisingly little has changed fundamentally in the nearly two years that have passed, as officials have largely refrained from taking any significant actions except those that make it even harder to invest in Turkey. Turkey used to be the darlings of EM. Now, we fear it will end up being…
11 May 2020
As countries worldwide are forced to spend unprecedented amounts to counter the economic and health effects of COVID-19, fiscal and current account deficits are set to rise globally. Rocky market conditions mean most EM sovereigns will struggle to access external funding, however, leaving the local private sector to pick up the slack, according to a recent report from the Institute of…
7 May 2020
Lebanon is a step closer on the path towards economic reform, as the government agrees to approach the IMF for support. Hezbollah finally withdrew their opposition to the country requesting funds from the multilateral, which could help the struggling economy, but other political spats risk delyaing the process.
5 May 2020
The International Monetary Fund (IMF) has approved a new USD10.8bn flexible two-year credit line with Colombia, which the country can tap into in order to address downside risks presented by the coronavirus pandemic.
4 May 2020
Saudi central bank reserve assets fell by around USD24bn in March, according official data. Accounting for non-reserve holdings, net foreign assets fell by just under USD27bn throughout the month.
4 May 2020
As budget gaps widen to historical highs, Romania, one of Eastern Europe’s most frequent bond issuers, is at risk of losing its coveted investment-grade status, potentially hampering the country’s ability to satiate its growing need for funding.
1 May 2020
The IMF has accelerated coronavirus-related disbursements of emergency funding to Latin America, with both Costa Rica and the Dominican Republic securing crucial financial assistance from the Fund.
30 Apr 2020
While governments and multilateral agencies announce a raft of measures to support businesses, banks, and individuals, UAE-based CFOs and treasurers batten down the hatches as focus shifts towards liquidity management, supplier support, and cost reduction.
29 Apr 2020
The Asian Development Bank has announced a USD1.5bn financing package to support the Philippines’ response to COVID-19. The budget support will help protect the Philippines’ population and the healthcare system.
27 Apr 2020
Falling wages and rising unemployment among migrant workers will lead to the sharpest drop in recent history, according to the Group’s report.
24 Apr 2020