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Economic Views: Can Argentina Continue Adjusting?

Argentina’s bailout involves tough fiscal adjustment. Many fiscal measures have been implemented so far, but adjustment needs to be deeper and long lasting. Some IMF programs delivered similar adjustment, but many fell short of what Argentina is aiming for. Few EMs kept a tight fiscal stance for many years.

 FRT Episode 34: Consumer Data Rights  

Douglas Elliott, Partner at Oliver Wyman in the Finance & Risk/Public Policy practice, joins FRT to discuss the policy debate around privacy and consumer data rights, and the specific challenges for the financial sector.

Emerging Markets Bank Lending Conditions Survey - 2019Q1

EM bank lending conditions tightened less in 2019Q1. Improvements in each sub-index drove the uptick. EM Europe and EM Asia began to witness easing, while LatAm and MENA remained in tightening territory. Respondents expect easing in lending conditions for 2019Q2.

IIF responds to FSOC proposal on nonbank systemic risk designation

The IIF has submitted a response letter to the U.S. Financial Stability Oversight Council (FSOC), which is chaired by the U.S. Treasury, regarding their proposed interpretative guidance on the supervision and regulation of certain nonbank financial companies. 

Weekly Insight: Speed Bumps

U.S.-China tariff tantrum highlights risks for corporate earnings; Global IPO activity slowing as debt financing prevails—except in the U.S. where tech offerings steam ahead; At around 15% of GDP, the USD debt of non-bank borrowers is now as high in mature markets (ex-U.S.) as for emerging markets—and a risk in both cases; Innovative sustainability-linked loans gain traction; ESG bond/loan issuance set to surpass $300bn in 2019

Global Macro Views: The EM Positioning Problem

We unveiled a new EM positioning database late last year. Here we provide a further breakdown into equities and bonds, which allow us to zero in on the biggest EM positioning overhangs. The largest overhang, South Africa, is due to both in equal measure.

GCC Real Estate Developments: Still Searching for a Turnaround

Oversupply and weak demand have weighed on real estate prices since 2014. Vulnerability stems from an unrealistic economic model amplified by adverse external factors, with detrimental effects to growth and financial stability. However, policy responses may slow the pace of future price declines.

Frontier LatAm: Assessing External Vulnerability

Current account deficits in Frontier LatAm remain wide and are largely dependent on remittances and oil prices. While high FDI helps cover external financing needs, debt buildups have been significant in some countries, increasing external vulnerability amid limited buffers.

Economic Views: Imbalances Build Up in Colombia

Colombia’s current account deficit was wide in 2018, despite depreciation since the oil price shock of 2014-15. We think deficits are largely driven by structural forces.Colombia’s external vulnerability will likely remain.

April 2019 EM Growth Tracker

EM Growth Tracker at 3.6% 3m/3m sa ar in April. Hard data variables behind the improvement. EM Europe & Africa trackers with important gains.




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Email: info@iif.com

IIF Middle East and Africa
Regional Office
DIFC, The Gate Building,
Level 15
P.O. Box 121208
Dubai, United Arab
Tel: +971 4401 9651

IIF Asia Pacific
Regional Office - Beijing
Winland International Finance Centre
Suite F920, 9F
No.7 Jinrong Avenue
Xicheng District, Beijing
100032, PRC
Tel: +86 10 5836 9100
Fax: +86 10 5836 9300

IIF Asia Pacific
Regional Office - Singapore
50 Raffles Place
#22-06 Singapore Land
Singapore 048623
Tel: +65 6592 5089

IIF European
Representative Office
Square de Meeûs 23
14th Floor
1000 Brussels
Tel: +32 2 430 37 08