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Recovery plan will need to follow Argentine debt deal

Location:

ARGENTINA

The net present value (NPV) of this fifth offer is around 37% higher than the first, largely the result of bringing forward payment dates. Despite a significant fall in the…

Morocco can get through COVID-19 and drought shocks

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MOROCCO

This follows an earlier downgrade from Fitch. Morocco’s principal exports -- automotive, phosphates and tourism in particular -- are vulnerable to global market volatility…

IMF unlikely to resolve Zambia's debt conundrum

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ZAMBIA

While the G20's new Common Framework for Debt Treatments provides a new mechanism for debt restructuring, it also requires Zambia to convince the IMF that it has disclosed all of…

Mozambican debt deal will bring only short-term gains

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MOZAMBIQUE

Mozambique debt restructuring.

Argentine default fears will not subside this year

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ARGENTINA

Despite exchange rate stabilisation in the last two months, the country risk premium had remained above 800 basis points since early April, reaching a peak of 1,008 on June 3…

Ghana's repayment moratorium may complicate debt talks

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GHANA

The decision applies to Ghana’s Eurobonds, commercial term loans and most of its bilateral debt. It does not apply to multilateral debt. The government, which reached a…

Catastrophe bond market is set for strong growth

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INTERNATIONAL

As an alternative source of capital to traditional reinsurance, catastrophe (cat) bond issuance, a securitised type of insurance against catastrophe-linked losses, is reaching new…

Ukraine issues costly bond as it hopes for IMF funds

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UKRAINE

These payments come shortly after the ministry placed a 725-million-dollar, six-month Eurobond with private investors. The government seems to have had no alternative to this…

Peronist power-plays favour debt deal in Argentina

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ARGENTINA

President Mauricio Macri's Cambiemos coalition has only 15 Senate seats, and his resounding success depended on the support of the opposition Peronists -- notably the Frente para…

Ukraine debt restructuring will be very problematic

Location:

UKRAINE

The economy is weak and needs financial support. Debt restructuring is part of Ukraine's new IMF extended fund facility (EFF) programme, which itself should unlock a larger rescue…