There are many words history books will use to describe the events which occurred in 2020, but the one that seems to be the most popular is – unprecedented. As visible from the graph, CROBEX recorded a sharp decrease of 13.74%, ending the year at 1,7...

Placed in what is traditionally perceived as a rather volatile region -a characteristic frequently attributable to the macroeconomic context as well- the four Balkan economies that we review here have navigated through the 2020 in an admirably resili...

Already in 2020, we have seen a large number of sovereign defaults, notably in Argentina, Belize, Ecuador, Lebanon, Suriname and Zambia. Meanwhile, Bahrain (+9ppt to 137%), Brazil (+2ppt to 104%) and South Africa (+6ppt to 85%) see more modest increa...

It’s a sit up and pay attention moment when emerging markets run a collective fiscal deficit of some 10% of GDP. The year ahead should see the US dollar remain on a weakening trend, a circumstance that cushions emerging market economies in many ways....

It’s a sit up and pay attention moment when emerging markets run a collective fiscal deficit of some 10% of GDP. We explore further and assess the risks. It is also a year in which there will be some upward pressure on core rates, but not too much. T...

In its latest World Economic Outlook, the IMF predicts the global economy to experience a 4.4% contraction in 2020 (+0.8ppt vs its June estimates) and a partial rebound to 5.2% growth in 2021 (-0.2ppt). Asia (-1.7% in 2020; +8.0% in 2021) faces a mor...