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IIF Capital Flows Tracker: Flows to EM Improve

April saw a recovery in portfolio flows to EM. Equity and debt inflows were $2bn and 15.1bn. EM x/ China equity flows remain depressed.

CEEMEA Views: Nigeria - Significant External Stress

COVID-19 has exacerbated existing external pressures on Nigeria. Despite external support, we expect reserve losses of $8 bn in 2020. The c/a deficit remains significant in the context of low oil prices. At the same time, global risk-off behavior weighs on capital flows. Debt amortization and large fiscal deficits increase financing needs.

Egypt: IMF Support Critical 

We expect the IMF to approve, in the coming weeks, the Egyptian authorities’ request for financial assistance through a Rapid Financing Instrument (RFI) and a Stand-By Arrangement (SBA). This financial support package would help strengthen confidence in the economy and meet large financing needs. 

Weekly Insight: COVID-19 Heat Map for the Poorest Countries

The G20 Debt Service Suspension Initiative (DSSI) could free up >$20 bn by suspending payments for the poorest countries; The DSSI may appeal to countries that rely heavily on official bilateral creditors, e.g. Cambodia, Comoros, Myanmar, Vanuatu; Countries with high external funding needs - e.g. Mongolia, Mauritania, Grenada and Dominica - could also benefit

GMV: COVID-19 and the G-3 Policy Response

The US policy response to COVID-19 stands out in international comparisons. Fiscal stimulus is likely to take government debt from 80 to 110 percent...

Macro Notes: Sub-Saharan Africa - Key Vulnerabilities

COVID-19 is exacerbating existing vulnerabilities in Sub-Saharan Africa. The global recession and drop in commodity prices hit the region hard. We present a framework to summarize SSA’s exposure to different risks. Multilaterals need to play an important role in the region going forward.

An Aerial View of the Bank Prudential Regulatory Response to COVID-19

This short article provides a visual summary and numerical stock take of the banking sector prudential regulatory measures taken across the world in response to the COVID-19 pandemic.

IIF ESG Webinar: How to Integrate Climate Risk and Opportunities into Banks Credit Risk Framework

IIF Managing Director, and Head of Sustainable Finance, Sonja Gibbs speaks with David Carlin, the lead on the TCFD Banking Pilot Program for UNEP-FI, about how to integrate climate risk and opportunities into banks credit risk framework.

FRT Episode 66: COVID-19 and Data Policy

David Hardoon describes the key emerging issues in data policy that have been highlighted by the COVID-19 experience, including the value assigned to privacy, connectivity across borders, and the unintended consequences of some previous policy settings.

Economic Views: Nowcasting Net Capital Flows under COVID-19

Our daily trackers show outsized EM portfolio outflows, ... but we do not observe other types of flows in real time. We introduce a framework to n...
 

 

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