Entries for 'Frontier Markets'

In 2023, frontier market (FM) accumulated some $20 billion of new debt, bringing the total to $3.5 trillion. For the first time since 2020, the FM debt-to-GDP ratio increased, as growth and inflation subsided.

After reaching an all-time high of $3.5 trillion in Q1 2023, total debt in frontier markets (FM) saw a slight decline in Q2 2023.

Some $120 billion was added to the debt pile of frontier markets in 2022, bringing it to an all-time high of $3.6 trillion.

Ghana is trying to restructure its local and external debt, … aiming for total debt of 55% of GDP in present value terms. We show present value rati...

The ESG debt universe has grown rapidly, to near $4.5tr in Q322, up from $3tr in Q321 and $1.5tr in Q320. However, overall ESG debt issuance has slowed sharply this year amid broader debt market disruption.

CCA countries have shown remarkable resilience in the face of external shocks. A sharp increase in tourism receipts and remittances, along with high energy prices, led to solid growth. While the terms of trade shock has had diverging effects on the region.

Sri Lanka secured a $2.9bn IMF program pending debt restructuring talks. We assess capacity to pay interest on restructured debt in coming years. ...

Several EMs are seeing outflows from local-currency government bonds. China is one of them, in the context of record portfolio outflows in Q1. Our t...

Kenya is one of the frontier markets cut from the bond market. The IMF program promises a lot of frontloaded fiscal adjustment, … by the standards o...

El Salvador’s funding gap through the January bond payment, …  could be 4% of GDP in the mild scenario we presented last week. Already falling rollo...

Many frontier markets have lost bond market access, … but have to meet sizable external financing needs soon. We estimate such funding needs for six...

Sri Lanka has gone into distress as we predicted last year. Devaluation will compress demand and imports drastically, … but will be insufficient t...

Sri Lanka repaid another external bond out of reserves in late July. The current account deficit is widening and financing is scarce, … but...

A Eurobond matures in July and buffers are very limited. Current account deficits will also add to financing needs. Repaying the bond out of reser...

Sri Lanka’s debt ratio will continue increasing, … unless new fiscal measures offset recent tax reform. External borrowing needs are ...

Sri Lanka’s current account deficit will widen this year, … and external bond amortization will be hard to manage. We see substantial...