Emerging Markets Digest: May 4
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:
Czech Republic: Fiscal consolidation package may reportedly reach CZK 120bn - EmergingMarketWatch
EM in 10' update - May 2023 - Ashmore's Gustavo Medeiros
IMF/WB Spring Meetings, April 2023 – country notes and global themes - Tellimer's Patrick Curran and Stuart Culverhouse
Suriname reached a deal to restructure nearly $600m of overseas debt with bondholders, per sources. The two bonds maturing on 2023 and 2026 will be rolled into a new 10-year amortizing bond. - Jorgelina do Rosario on Twitter
https://twitter.com/jdorosario/status/1653762522258841602
Major Middle East economies' PMI remained in expansionary territory in April. #SaudiArabia and the #UAE continue to enjoy a strong cyclical recovery along with serious initiatives to diversify their economies, while #Egypt continues to suffer given external vulnerabilities. - Emre Akcakmak on Twitter
EM rate cuts – The bar is high indeed: > Czech Rep nearly ended up with a Malaysia-like surprise (3 out of 7 CNB members wanted a hike) > Governor Michl: “No Cuts for You!” + policy rate high – or higher (!) – for longer > Memory of the CNB’s dovish makeover is long gone… - Natalia Gurushina on Twitter