by Amruth Sundarkumar | Sep 24, 2021 | Sovereigns
Argentina is raising money through currency conversions, bond sales, debt paydowns and new borrowings in a move to cover fiscal expenses following the IMF’s decision to grant the country $4.3bn of special drawing rights (SDRs). The moves by President Alberto...
by Amruth Sundarkumar | Sep 9, 2021 | Sovereigns
El Salvador became on Tuesday the first country to adopt Bitcoin as legal tender, triggering concerns amongst bond investors, especially over the government’s Chivo Wallet and the “buy the rumor, sell the fact” Bitcoin price action. Bitcoin’s price tanked by as...
by Amruth Sundarkumar | Sep 9, 2021 | Sovereigns
Ecuador is all set to receive $1.5bn this year in new disbursements from the IMF following a new staff level agreement with the fund. The agreement comes as the Ecuador government has agreed to put in place fiscal reforms and spending cuts as it seeks to achieve an...
by Amruth Sundarkumar | Sep 8, 2021 | Sovereigns
The global sukuk issuance has witnessed a decline in 1H2021 after the funding requirements of GCC countries reduced as oil prices have trended higher this year. A drop has been observed in sukuk issuance from UAE after it adopted the Shariah-compliance standards....
by Amruth Sundarkumar | Sep 6, 2021 | Sovereigns
The Sultanate of Oman managed to reduce its budget deficit by 22.2% YoY to OMR 1.21bn ($3.14bn) by end-July 2021 vs. OMR 1.55bn ($4.02bn) at end-July 2020 after it managed to improve its revenues by 0.5% and reduce its public spending by 4.7% YoY. The total revenue in...
by Amruth Sundarkumar | Aug 17, 2021 | Sovereign Bonds, Sovereigns
Dollar bonds of Pakistan traded weaker after the fallout in Afghanistan where its US-backed government collapsed over the weekend with Taliban taking over the regime. FT reports fund managers saying that the exodus of refugees from Afghanistan could strain the...
