by Amruth Sundarkumar | Jan 9, 2023 | Sovereign Bonds, Sovereigns
Pakistan’s dollar bonds moved higher by 0.7-1 points but then ended lower by 0.3 points after the latest update on its finances. Its Finance Minister Ishaq Dar said that China and Saudi Arabia would enhance their support to the nation with financing by...
by Amruth Sundarkumar | Jan 4, 2023 | Sovereign Bonds, Sovereigns
Nigeria’s President Muhammadu Buhari said that the nation will have to pay an extra $4bn in the form of additional interest to service debts if the Senate blocks its plan to restructure government loans from the central bank. Last week, the Senate suspended a...
by Amruth Sundarkumar | Jan 3, 2023 | Sovereign Bonds, Sovereigns
Pakistan and its senior notes were downgraded to CCC+ from B- by S&P due to “continued weakening” of its external, fiscal, and economic metrics. High inflation, interest rates, the impact of the floods and market conditions will pressure...
by Amruth Sundarkumar | Dec 21, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Ghana was downgraded to SD from CC after it suspended commercial interest and principal payments on its offshore bonds, commercial loans and most bilateral obligations. The nation’s planned debt restructuring could be characterized as distressed debt exchanges,...
by Amruth Sundarkumar | Dec 21, 2022 | Sovereign Bonds, Sovereigns
Oman is expecting to see an OMR 1.3bn ($3.4bn) budget deficit in 2023, equivalent to about 3% of GDP after seeing an expected surplus this year thanks to higher oil prices. Oman expects revenues of OMR 11.7bn ($30.4bn) and expenditures to be at OMR 13bn ($33.8bn) next...
by Amruth Sundarkumar | Dec 20, 2022 | Sovereign Bonds, Sovereigns
Ghana’s dollar bonds dropped by over 2 points across the curve as it unilaterally decided to suspend interest payments on its on offshore bonds, commercial loans and most bilateral obligations pending an agreement with creditors. This decision was made by the...
