Read the full report here. Ecuador launched its consent solicitation and invitation to exchange on Monday (20 July). The financial terms seem to be consistent with those set out in the Agreement in Principle with the Ad Hoc group of creditors, and in...

In this Strategy note, we present our Top-5 picks for the second-half of the year and survey recent market developments. The spread on the EMBGID is 447bps (cob 21 July), compared to its peak of 721bps on 23 March, but it still remains 156bps above t...

Equities saw a ‘V-shaped’ recovery in May and June, largely driven by local participation, as foreign investors continued to exit. We highlight eight stocks which hold upside potential in the current environment coming from a mix of value and growth;...

DOES CORRUPTION BOTHER YOU? Bangladesh: The use of anti-corruption as a means to persecute and weaken those politicians sitting in the opposition precedes the post-2009 era of the de facto one-party state under the Awami League (ie the Bangladesh Nat...

The fiscal deficit for 4M CY20 amounted to LKR 452bn, 2.9% of GDP (compared with 2.3% of GDP for 4M CY19), upby 24.4% YoY for the period. This increase was mainly driven by the Central Bank’s profit transfers (LKR 24.0bn) and rent income (LKR 8.6bn)....

With the exceptions of China, Malaysia and Vietnam (assuming reported data is accurate in both) all of Asia has struggled with Covid-19 and most of the large population countries have concluded that the poverty caused by long-term lockdowns will caus...