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Latest articles in Sub Sahara 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

Emerging Market sovereign bond issuance falls by 60% in July

EM hard currency sovereign bond issuance dropped to US$8.2bn in July, a fall of 60% compared to June, bringing total issuance YTD to US$131.7bn, based on our calculations using data from Bond Radar. For the year so far, 70% of issuance has been IG an...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 3 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
Flash Report / Kenya

Kenya: Restructured loans hit 29% of total loans; a worrying sign for the banks

Following its monetary policy meeting, which left the base rate unchanged at 7%, the Central Bank of Kenya (CBK) revealed that restructured loans in the Kenya banking sector had hit 29% of total loans by end-June – much higher than the13% recorded in...
Tellimer Research Faith Mwangi
Faith Mwangi @ Tellimer Research 30 July 2020
Strategy Note / Global

US Dollar: Recent weakness, drivers up and down from here (in one chart)

Spot rate down 9% from March peak (Covid-19 panic), but US$ still above 10-year averages for spot (6%) and REER (9%). Weak (or at least stable) US$ a pre-requisite for non-Technology EM-FM equities (eg Brazil, SA performance recently). Chart shows US...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 30 July 2020
Macro Analysis / Central African Republic

Impact of Conflict and Political Instability on Banking Crises in Developing Economies

While the economic effects of conflict and political instability have been analyzed extensively, much less attention has been paid to how banks are affected. Our study focuses on the potential impact of conflict and political instability on systemic...
International Monetary Fund
IMF Blog 29 July 2020