Decisive Panama shows way to go as EM faces up to cash crunch

Panama panther PA
By Oliver West
26 Mar 2020

Panama acted swiftly to capture crucial funds on Thursday, jumping on an improved market to raise $2.5bn of debt and giving a glimmer of hope to emerging market countries as fears were beginning to rise of a devastating funding squeeze for the developing nations just when they most need finance.

After two of the worst weeks in financial market history, new issuance from EM issuers was hardly on the agenda at the start of the week. But as the tide turned for the good in credit markets — largely thanks to impressive monetary and fiscal stimulus in the ...

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