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Latest articles in South Africa
Macro Analysis / Global

EM Covid-19 survey: Government support programmes are missing their mark

More low-income individuals aren't benefitting from government support than wealthier individuals. This difference seems most severe in China and India. Low-income individuals can't benefit from such schemes if they are financially excluded. Low-inco...
Tellimer Research Rahul Shah
Rahul Shah @ Tellimer Research 4 August 2020
Macro Analysis / Global

IMF emergency financing tracker: Where is Angola?

There are eight updates to our tracker this week. It may now take place in the second-half of August, at the earliest, when the board returns from recess. There is nothing else on the IMF board schedule in the next week (except Gabon today). Overall,...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 31 July 2020
Macro Analysis / Global

Covid-19 consumer survey: The EMs hurting (and helping) the most

Lower income is most prevalent in Indonesia, while it is less of an issue for Brazilians and Mexicans. In terms of changes in behaviour, home-working is now much more prevalent in Indonesia, while in China relatively fewer respondents had made this s...
Tellimer Research Rahul Shah
Rahul Shah @ Tellimer Research 24 July 2020
Macro Analysis / Global

IMF emergency financing tracker: Big guns South Africa and Angola on the agenda

After a quiet few weeks, there are six updates to our tracker this week. Together with new programme approvals or programme reviews under their existing arrangements (excluding countries for which precautionary credit lines have been approved), the t...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 23 July 2020
Strategy Note / Global

China challengers in manufacturing with low cost labour (in one chart)

For manufacturing activities not easily replaced by automation or 3D printing, which countries win share from China? Low wages and scale matter most in this segment: We plot wage curve up to China in countries with over 40mn population. Labour flexib...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 13 July 2020
Macro Analysis / Global

Emerging Market sovereign bond issuance rises in June, but more still to come

EM hard currency sovereign bond issuance was US$20.8bn in June, a rise of 11% compared to May, bringing total issuance YTD to US$123.5bn, based on our calculations using data from Bond Radar. For Q2 20 as a whole, nearly three quarters has been IG, n...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 1 July 2020