by Amruth Sundarkumar | Apr 4, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Oman was upgraded to BB- from B+ by S&P. This comes on the back of improving fiscal and debt trajectory. S&P expects Oman to benefit from higher oil prices given its reliance hydrocarbon products alongside the government’s ongoing reforms. Reforms like...
by Amruth Sundarkumar | Apr 4, 2022 | Sovereign Bonds, Sovereigns
Sri Lanka’s 26 cabinet ministers barring President Gotabaya Rajapaksa and his elder brother prime minister Mahinda Rajapaksa submitted their resignations late on Sunday amid strong protests. This paves the way for President Gotabaya to form a fresh Cabinet. The...
by Amruth Sundarkumar | Apr 1, 2022 | Sovereign Bonds, Sovereigns
Pakistan’s liquid reserves held by the Pakistan central bank, State Bank of Pakistan (SBP) fell by 19.5% weekly to $12.04bn, as of March 25, as per central bank data release. The SBP’s reserves are at its lowest since mid-2020. Overall, the nation’s...
by Amruth Sundarkumar | Mar 30, 2022 | Sovereign Bonds, Sovereigns
Ghana approved a tax on electronic payments (e-levy), an important law by the government to reduce its budget deficit this year. Government has the budget-deficit target of 7.4% of GDP this year and 12.1% last year. The e-levy proposed by finance minister Ken...
by Amruth Sundarkumar | Mar 28, 2022 | Sovereign Bonds, Sovereigns
The IMF board approved a new $44bn debt deal with Argentina. The deal replaces a failed $57bn program from 2018, for which Argentina still owes over $40bn to the IMF, Reuters notes. An amount of ~$9.66bn will be disbursed immediately. IMF’s Managing Director...
by Amruth Sundarkumar | Mar 23, 2022 | Sovereign Bonds, Sovereigns
El Salvador postponed the debut issuance of its public tokenized dollar bond called “Volcano Bonds”. The bonds were expected to be issued last week but got postponed as the government said it looking for better market conditions. The issuance could be delayed until...
