Ukraine’s Dollar Bonds Slump on Worries over Potential Invasion
Ukraine’s dollar bonds fell 3-5 points on fears about Russian military action against Ukraine. Russia had mobilized about 100,000 troops on Ukraine’s border and threatened “grave consequences” if its push for security guarantees from the US did not succeed, as...
Sri Lanka Downgraded to CCC by S&P; CBSL Gov Says it Will Meet All Debt Repayments
Sri Lanka was downgraded to CCC from CCC+ by S&P reflecting continued deterioration in the nation’s ability to maintain sufficient forex resources to meet external obligations. S&P said, “The Sri Lankan government faces increasingly likely default...
Sri Lanka Allocates $500mn for January Bond Payment
Sri Lanka’s central bank said it has allocated $500mn to repay its 5.75% dollar bond maturing on January 18, 2022. Sri Lanka repayments of ~$4.5bn in 2022 and has forex reserves worth $1.6bn at end-November. Media company CNA said that the low levels of forex...
Turkish Investors Hold on to Foreign Currency Despite Erdogan’s Plan
Turkey investors are said to be undermining President Erdogan’s plan to support the Lira without raising interest rates. They are holding on to their foreign currencies with companies boosting their FX holdings by ~$1.6bn in the week ending December 24. Total...
