As most EM sovereign debt trading takes a day off to recover from the recent sell-off, with the US Columbus Day holiday, we take a look at the performance of sovereign currency bonds during this period and identify the winners and losers (mainly lose...

Data released today by the Central Bank of Sri Lanka (CBSL) shows a sharp drop in reserves in September, falling by nearly US$1bn to US$2.58bn from US$3.54bn in August. This is critically low, at a mere 1.6 months of trailing goods imports, and compa...

The 6-month Roadmap for the Central Bank was outlined today, with key emphasis on 1) Focused efforts on macro and financial system stability, 2) Near-term measures to ensure continued timely debt servicing, 3) Measures to increase forex liquidity in ...

Sri Lanka’s BOP crisis has continued to worsen in recent weeks following the government’s imposition of a food and currency “emergency” at the end of August, giving it the power to impose price controls over certain food items amid worsening FX short...

We held a series of client meetings in London last week, our first since Covid began eighteen months ago, meeting with a mix of fixed income and equity investors in EM and Frontiers, Africa specialists, and special situations and distress funds. The ...

Sri Lanka has faced continued sovereign-debt-servicing pressure because of economic and financial conditions, with the significantly affected tourism sector affecting its ability to obtain foreign currency as a way to repay the debt because of its he...