We've looked at the total amount of financial assistance provided so far by the IMF, and its composition, since the pandemic began just over a year ago. The numbers flatter to deceive. According to IMF Managing Director Kristalina Georgieva, in her opening remarks to the Spring Meetings last week, the Fund has now supported 86 countries with financing of over US$110bn in a variety of instruments since the pandemic began. But we think this total overstates its lending – half of it comprises credit lines to just four Latam countries. And while the IMF puts its Covid-era programme lending at US$23bn, we think the real amount is less than half that. Get the full story →

Catalysed by the pandemic in 2020, ‘community group buying’ – where people living in the same community buy fresh produce and other groceries in bulk at a discount, arranged through WeChat groups – has become increasingly popular and has attracted the attention of internet giants, such as Alibaba, Pinduoduo and Meituan. Currently, China’s e-commerce giants are the major players and the most likely eventual winners, as they have financial advantages and large customer bases. Analysts at EqualOcean take a closer look at this burgeoning business. Get the full story →

The new US sanctions include restrictions on Russia's sovereign debt market and the expulsion of 10 diplomats for alleged election interference and hacking. According to Tellimer’s Hasnain Malik, restrictions on purchases of new sovereign debt is hardly a potent punishment for an economy running less than a 1% fiscal deficit and with under 20% debt to GDP. At best, it is a signal that the US can escalate its financial measures against Russia, but there is little here to shake the investment case in non-sanctioned Russia. For more on the potential impact of the sanctions, click here to read ING Think’s key takeaways. Get the full story →

Africa remains one of the world's most attractive hunting grounds for digital payments, given poor rates of financial inclusion, a young, fast-growing population and increasing smartphone penetration. Telcos have traditionally had a big advantage in this area, given their large customer bases and data-handling capacity. Airtel Africa recently confirmed that it was looking to separately list its mobile money arm, and now MTN is following suit. If these transactions are successful expect other regional telcos, such as Sonatel, to repeat the exercise. We think separate listings of African telcos’ mobile money arms could generate significant investor interest, and also help remove the substantial conglomerate discounts that we think currently exist. Get the full story →

After weeks of speculation, Grab Holdings is merging with Altimeter Growth Corp, a US-listed SPAC. Grab will be valued at US$40bn, making it the largest SPAC deal ever. It will also be the first Southeast Asian tech unicorn to list through a SPAC. There are other Southeast Asian tech companies mulling SPAC listings, including Traveloka and Tokopedia, while consolidation between e-commerce and other tech sectors could accelerate. Get the full story →