Emerging Markets Digest - May 16
Metodi Tzanov
Helping finance professionals understand what is going on in Emerging and Frontier Markets
Here are the EM posts that caught my attention today and are worth checking out:
Argentina: EconMin announces rate hike, more FX intervention, and pro consumption policies - EmergingMarketWatch
Schroders Emerging Markets Lens May 2023: your go-to guide to emerging markets
Turkey Chartbook: Outlining the economic challenges facing Turkey's next leader - Tellimer
Frontier Markets Weekly, May 13th 2023
Pakistan remains in a tough spot given thin fx reserves, inclined to turn to China to avoid default given IMF delays. Politics make things worse, but looking at IMF's ultra-generous response to serial defaulter Argentina, one wonders how exactly its decision-making works. - Emre Akcakmak on Twitter
EM rate hikes: > South Africa – buzz about +50bps next week instead of 2x25bps in 6m (market) > Thailand elections = coalition = more spending? = more hikes (vs 27bps priced in for 1y)? > Argentina can hike from here to eternity – not much will change w/o reforms and unified FX - Natalia Gurushina on Twitter
We are bullish Kenya. Proposed fiscal adjustment isn't unprecedented elsewhere and the IMF program is going well. The official sector will give Kenya the ~3.7bn needed to pay the Jun 2024 bond if market access is not possible. - Sergi Lanau on Twitter