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Macro Notes: The COVID-19 Recession in CEEMEA

We now expect an even deeper output contraction of 5.7% in the CEEMEA region. Effects of the COVID-19 shock are increasingly visible in the data for March-April. We downgrade growth in South Africa, the Czech Republic, Ukraine, and Russia. The fall in activity prompted authorities to implement fiscal stimulus measures. Together with cyclical revenue weakness, additional spending will widen deficits. CEEMEA central banks cut rates and some began government bond purchases.

IIF Responds to IASB Phase 2 Exposure Draft on IBOR Reform

The IIF submitted a comment letter to the International Accounting Standards Board (IASB) Exposure Draft

Economic Views: LatAm Growth and COVID-19

We downgraded global and LatAm growth markedly in April, but since then activity has contracted even faster than expected.

Capital Flows to MENA: High Quality Assets Still Calling Investors 

Capital inflows to the MENA region will remain high despite the global backdrop. We expect the plunge in oil prices and widening fiscal deficits will lead to a decline in private non-resident capital flows to oil importers, but will be partly offset by higher official flows. 

IIF May 2020 Global Regulatory Update

The May 2020 IIF Global Regulatory Update provides updates on current work streams.

GMV: The March Capital Flow Exodus from EM

Emerging markets have stabilized since the peak COVID-19 shock in March. Depth and severity of non-resident portfolio outflows at the time surprised...

ESG Webinar: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation

This week featured Maha Eltobgy, Head of Shaping the Future of Investing, World Economic Forum, speaking with Sonja Gibbs, Managing Director and Head of Sustainable Finance, Global Policy Initiatives, IIF.

Macro Notes: Russia - Safe Haven Among EM

Russia’s assets are stabilizing, and investors are showing renewed interest. The “Fortress Russia” strategy has reduced macroeconomic vulnerabilities. We expect both the fiscal and monetary policy responses to remain modest. As the economy is set to reopen, COVID-19 infections continue to spread.

Economic Views: Financing Needs in Frontier Markets

We expand our database of FM external financing needs, … including past crises in the 90s we can use as a reference point. Funding needs will...

FRT Episode 68: The Libra Refresh and Digital Currency Developments

John Collins of FS Vector joins FRT to discuss the Libra White Paper 2.0 and key updates in the initiative, against the backdrop of various developments with central bank digital currencies (CBDCs). 

 

 

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