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Economic Views: Are EMs Dollarizing?

Outflows from local-currency govies were large earlier this year, … but appetite for FX instruments proved a lot more resilient. We check w...

China Spotlight: Unemployment Rate and Labor Participation 

China’s surveyed UR provides more reliable labor data than before. Its survey method is consistent with global norms, and its coverage is reasonably comprehensive. An aging population, expanding services sector, and lower labor force participation help explain the stable unemployment rate.

Key Takeaways From The 2020 IIF Annual Membership Meeting

As we near the end of the year, we want to reflect on some of the key themes and priorities coming out of our 2020 Annual Membership Meeting. We have attached a summary of what we feel are the key takeaways from the meeting.

November U.S. Regulatory Update

The November U.S. Regulatory Update covers the U.S. elections, President-elect Biden’s financial regulatory agenda, climate risk updates from the CFTC and NYDFS, Fed stress tests, regulator testimonies on Capitol Hill, and more.

Kazakhstan: Policy Space 

Kazakhstan’s flexible exchange rate and use of ample policy buffers have limited the effect of COVID-19 on the economy. Vulnerabilities remain high due to low oil prices and structural weaknesses. Key reforms need to be implemented to reduce dependency on oil and promote private sector growth.

Green Weekly Insight: Economic Impacts of Climate Change

Rising temperatures could hit global growth, especially with a big rise; 2.5°C warming could trigger a 1.3% income loss; “Business as usual,” with no emissions mitigation efforts, could cause at least a 7% decline in global GDP/capita by 2100; Both cold/rich and hot/poor countries could see incomes fall, with big but avoidable losses for Canada, Russia, U.S., India; Multiple impact channels between the climate and the economy; climate confirmed as credit-relevant for sovereign issuers

IIF Letter to the G20 on DSSI Extension and Common Framework

In the wake of the extension of the G20 Debt Service Suspension Initiative (DSSI), as well as recent thoughtful proposals for reforming the international sovereign debt architecture, the IIF offers these private sector perspectives that build on our September 22 letter to the G20.

FRT Episode 80: Annual Download with FinTech Beat

FRT once again joins forces with CQ Roll Call’s FinTech Beat podcast, as we exchange our key takeaways from across the IIF Annual Membership Meeting, the IMF & World Bank annual meetings, and DC FinTech Week, with FinTech Beat host, Professor Chris Brummer of Georgetown University.

GMV: The Not So Dominant Currency Paradigm

The export channel from devaluation remains a positive force for EM one we think is underappreciated at the current juncture.

Macro Notes: Zambia - Debt Dynamics Remain Unfavorable

Zambia has launched consent solicitation for a deferral of bond payments. Kwacha depreciation is the main driver of unsustainable debt dynamics. In a no-adjustment scenario, public debt could reach 200% of GDP by 2025. Upcoming general elections in August ’21 contribute to policy uncertainty.

 

 

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