We update our database of foreign flows to local-currency govies, … where heterogeneity across EM is substantial since covid began. Major EMs like...

Mounting geopolitical tensions risk undermining the international collaboration needed to address global challenges, including efforts to scale up climate finance; Yet delays to climate policies may prove costlier than swift action-which would further exacerbate public debt burdens; Near-term sovereign debt vulnerabilities in major emerging markets have increased substantially this year, but less so than in 2020; these growing debt strains make the challenge of sourcing climate finance more difficult still.

We yesterday published our updated Capital Flows Report, … laying out our latest global growth and capital flows forecasts. Risk is buildin...

We are lowering our global growth forecast due to Russia’s invasion of Ukraine, … and uncertainty of China’s growth prospects giv...

Sanctions on Russia combined with supply shortages elsewhere may keep oil prices elevated despite lower global demand. Higher global oil supply combined with weaker demand growth could stabilize the oil market in H2 2022 and in 2023

China's State Council unveiled a plan to promote retirement savings, which is sorely needed, given inadequate public and employer pensions. This new retirement savings plan will help deepen China's financial markets and reduce volatility.

Rising borrowing costs and the strength of the USD will exacerbate debt vulnerabilities in emerging markets; With EM budget deficits still running above pre-pandemic levels, higher and more volatile energy prices could force some countries to increase public spending even further; Effective investor relations (IR) programs can play a vital role during times of diminishing market confidence to mitigate contagion by providing investors with a better understanding of policy goals; However, successful IR practices require timely dissemination of relevant information beyond central government debt obligations and fiscal operations. Countries still need to provide more data on ESG priorities and progress.

Our forecasts show the global economy teetering on the brink of recession, … as war in Ukraine, COVID lockdowns in China and a hawkish Fed we...

Total global debt rose by $3.3 trillion in Q1 2022 to a new record of over $305 trillion-mostly due to China and the U.S.

Long-term US yields are rising rapidly fast and global growth slowing, ... a combination that could prove challenging for some emerging markets. ...

China’s FX market has grown and changed significantly. This China Spotlight looks into China’s FX market structure and how it shapes the RMB exchange rate.

Country-level ESG scores offer a practical starting point to compare ESG performance across investment destinations; While not a substitute for comprehensive ESG due diligence, ESG scores also help monitor trends over time; Chile, Brazil, and Poland have the top aggregate ESG scores in our sample of emerging markets, reflecting their strong environmental performance, though Poland has more scope to reduce carbon intensity; South Africa, Vietnam, Russia, and India score in the lower range on the ESG factors that we track in our scoring.

We switched to forecasting a Euro zone recession two months ago, … given rising odds of adverse spillovers from Russia’s invasion of Uk...

The May 2022 edition of the Global Regulatory Update provides targeted updates on current workstreams and events.