by Amruth Sundarkumar | Aug 2, 2022 | Sovereign Bonds, Sovereigns
Luxembourg-based banks have been ordered to freeze all Ecuadorian assets after a settlement charge of $391mn to Anglo-French oil company Perenco remains unpaid. In 2021, Ecuador’s government had pledged to pay the settlement sum after the World Bank’s...
by Amruth Sundarkumar | Jul 28, 2022 | Sovereign Bonds, Sovereigns
The President of El Salvador, Nayib Bukele announced on Twitter that he has tabled two bills with lawmakers on plans to buyback its dollar-denominated bonds due 2023 and 2025. The “transparent, public and voluntary” offer will be at market prices and expected to start...
by Amruth Sundarkumar | Jul 26, 2022 | Sovereign Bonds, Sovereigns
Saudi Arabia’s Prince Mohammed bin Salman (MBS) announced that the kingdom will set aside SAR 300bn ($80bn) for an investment fund dedicated to his flagship project, Neom. As per the latest announcement, the first phase that runs till 2030 will cost SAR 1.2tn...
by Amruth Sundarkumar | Jul 25, 2022 | Sovereign Bonds, Sovereigns
Nigeria’s oil revenues of 1.63bn Naira ($3.8bn) since the start of the year to April are 61% below budget forecasts for the period and lower than the 1.94tn Naira ($4.6bn) needed to service its outstanding debt. Despite oil prices soaring globally, the African...
by Amruth Sundarkumar | Jul 21, 2022 | Sovereign Bonds, Sovereigns
Ghanaian lawmakers have approved the government’s plan to take out a $750mn loan from African Export-Import Bank to supplement their 2022 budget. This is the first part of the $1bn in loans that the government is looking to obtain this month. The second part worth...
by Amruth Sundarkumar | Jul 21, 2022 | Sovereign Bonds, Sovereigns
Before disbursing fresh funds to Pakistan, the IMF wants assurance from Saudi Arabia that it will commit $4bn of funding to the financially stressed nation. This is because IMF seeks to ensure that there is no funding gap after its $1.2bn loan disbursal towards...
