The Bank of Korea left interest rates unchanged at 4.5% for the sixth consecutive month. Despite low inflation, consumer spending has slugged leading to a moderate growth rate of 0.8% in the fourth quarter.
Chile’s foreign debt increased by 7.1% in 2006, totaling $48.24 billion. 78 % is owed to the private sector and remaining 22% to the public.
The Venezuelan government and PDVSA (the state oil and gas company) are to jointly circulate $5 billion in bonds, with PDVSA issuing the bulk at $3.5 billion.
G7 ministers are to discuss this week a German-sponsored African bond market initiative. The idea is designed to provide the continent with stable flows of financial capital and to counter China’s large and unconditional loan packages.
Moody's upgraded its assessment of Indonesia's state debt securities (foreign and local currency bonds) from stable to positive. Improved foreign debt management, a stable political climate and the 1% budget deficit were cited as reasons for the upgrade.
- Information provided by Euromoney group sources.