Tellimer Research

The financial performance of South Africa firms has improved dramatically in recent years; two-thirds are now profitable. Moreover, they are generating faster operating profit growth than their EM peers. The largest market share gains for fintechs ar...

We took part in a Menas Associates webinar on Nigeria’s post-election macro and political outlook. Incoming President Tinubu inherits severe economic challenges and may struggle to course correct. Macro policies should still improve at the margin aft...

The Index ranks the 1,000 most investable emerging market firms across 6 core dimensions via 36 objective criteria. West Asia (high growth) trumps China ADRs (low profitability). Metals (high momentum) beats Real Estate (poor momentum). Top-ranked: I...

The Fed shot down last week’s expectations of a pause, but recession risks raise the odds of a dovish pivot by Q4 22. We anticipate more near-term US inflation upside, making it difficult for the Fed to pivot before H2 23. More than ever, EMs are cau...

IMF announced earlier this week staff-level agreement on a new 48-month US$15.6bn programme. The announcement has been expected and follows the successful conclusion last month of a monitoring arrangement. The new programme has been designed in line....

On 20 March the IMF Board approved a new US$3bn, 48-month EFF for Sri Lanka and published the accompanying DSA. There is a lot of ambiguity in the DSA and it is not the end of the road, but we update our recovery value assumptions. Recovery values of...