The market seems confident that the US$500mn eurobond will be paid when it matures on 18 January, with the government assuring investors that the necessary funds have already been allocated and bond prices on the SRILAN 5 ¾ 01/18/2022s rising from be...

We highlight eight trades/assets to watch that could make for interesting opportunities next year, or situations to avoid: Angola, Argentina, El Salvador, Ethiopia, Ghana, Sri Lanka, Ukraine and Zambia. A short programme extension, or approval of a n...

Sri Lankan eurobonds have continued to drop, with the SRILAN 6.85 03/14/2024s now sitting below US$52 versus our most recent target price of US$55. In both restructuring scenarios, we assume that default is triggered by failure to pay its January 202...

We published our end-of-year trilogy last week (2021 review, 2022 Outlook and top picks for next year). Argentina and Ukraine – We were right to be cautious on both of these, with a Hold on both coming into this year. Egypt – One of our Top 5 picks h...

We present our top picks for 2022. In addition, financing needs looks manageable, but recourse to the IMF remains an option if conditions dictate. We retained our Sell recommendation on 1 December with a target price of US$55 for the SRILAN 6.85 03/1...

For most migrant workers, the cost of sending money home is still well above the United Nations’ 2030 Sustainable Development Goal of 3%. For low and middle-income countries the situation is even worse; we estimate an average transaction cost of 5.3%...