The Indian rupee is the worst-performing currency in Asia this year. We assess whether this reflects heightened external vulnerability, comparing risk metrics in the run-up to the taper tantrum vs. now. The current account deficit will widen, but not to 2012 levels. Reserves relative to external financing needs are higher now. External vulnerability persists but is less acute than in 2012.
The EM sell-off is abating as the worst FX overvaluations have shrunk, but risks related to China remain in the context of the ongoing trade war. W
Where "˜Open Banking' frameworks are being developed for the policy objectives of promoting competition and empowering consumers, these are worthwhile
Against the backdrop of rising rates, a stronger USD and more volatile capital flows, Bahrain, Pakistan, Zambia, Ghana and Tunisia are currently among