Emerging Markets - All News

  • RemeGen launches $514m Hong Kong listing

    RemeGen, a Chinese biopharmaceutical company, has rolled out a Hong Kong IPO that could be worth up to HK$3.99bn ($514.5m).

    • 05.45 AM
  • Argentina’s economic struggles are a danger for provincial restructurings

    Eye-watering bond yields on Argentina’s recently restructured sovereign bonds indicate that investors have little faith in its economic plans. That will make it hard for issuers and investors to see eye-to-eye in the wave of provincial debt restructuring talks that has followed the sovereign's deal with bondholders.

    • 27 Oct 2020
  • Lira hits record lows as Turkey watchers beg for rate raise

    The Turkish lira fell to record lows against the dollar this week, causing investors to adopt a risk off attitude. Market watchers believe now is the time for the Central Bank of Turkey to increase interest rates, which is seen as one of the only ways for the country to recover from its currency crisis.

    • 27 Oct 2020
  • Aeroflot lands equity raise with strong government support

    Russian airline Aeroflot completed its Rb80bn ($1.05bn) capital raise on Monday, aimed at repairing its balance sheet by repaying debt, with the Russian state increasing its stake in the carrier.

    • 27 Oct 2020
  • Sharjah returns for sukuk tap

    The Emirate of Sharjah, which last entered markets this June with a Formosa bond, has mandated banks to arrange a tap on its dollar sukuk.

    • 27 Oct 2020
  • Investors embrace Mail.Ru block despite red day for markets

    Sands Capital Management, the US investment manager, sold a 1.6% stake in Russian internet services company Mail.Ru on a torrid evening for international stock markets.

    • 27 Oct 2020
  • Lufax hooks investors to $2.4bn US listing

    Ping An Insurance-backed Lufax Holdings has covered its $2.36bn US listing. Global heavy-weight investors flocked to the long-awaited deal.

    • 27 Oct 2020
  • Beijing Hyundai switches to revolver for auto ABS return

    Beijing Hyundai Auto Finance has adopted a revolving structure for its Rmb4bn ($597m) return to the auto loan asset-backed securities (ABS) market.

    • 27 Oct 2020
  • JW Therapeutics closes IPO early

    Chinese biotechnology firm JW (Cayman) Therapeutics is set to close the book for its Hong Kong IPO on Tuesday, a daily earlier than planned, according to a source familiar with the matter.

    • 27 Oct 2020
  • Ant covers $34bn Hong Kong-Shanghai IPO

    Chinese financial technology company Ant Group is set to raise $34.3bn from the world’s largest ever IPO, after covering the deal within minutes of launch.

    • 27 Oct 2020
  • Deutsche adds to Apac ESG team

    Deutsche Bank has grown its environmental, social and governance (ESG) team in Asia Pacific with a new hire.

    • 27 Oct 2020
  • Chile bonds stable on referendum result but uncertainty lingers

    Chile's sovereign dollar bonds hardly budged in Monday trading despite its electorate voting to change the country's constitution the night before. But analysts believe uncertainty along the road to a new political agreement could harm investment, and the new constitution will likely drive up government spending.

    • 27 Oct 2020
  • Standard Bank secures Chinese loan in shrunken market

    South Africa's Standard Bank has raised a syndicated loan from a consortium of Chinese lenders. The transaction marks one of the few spots of activity in a market that has almost halved in size this year.

    • 26 Oct 2020
  • BCS hires former Sberbank tech officer to lead IB operations

    BCS Global Markets, the investment services division of Russia’s largest independent broker, has hired Vadim Kotov as the new chief operations officer for its investment banking business.

    • 26 Oct 2020
  • Scepticism clouds Ukraine's hopes of securing IMF disbursement

    Analysts believe optimism over the likelihood of the IMF's continued disbursement of funds to Ukraine is unfounded with the country struggling to fulfil the conditions the Fund has set.

    • 26 Oct 2020
  • Mexican telco to test appetite for Lat Am debutants

    Total Play Telecomunicaciones, the Mexican telecommunications company, is approaching international bond investors for the first time. With some EM investors saying they are ready for a pre-US election lull in bond issuance and mixed fortunes for recent new Latin America deals, it could provide a good test of the state of play in the region’s primary markets.

    • 26 Oct 2020
  • China policy and markets round-up: Fiscal revenue returns to growth, Sweden bans Huawei, S&P expands to exchange bond market

    In this round-up, China’s fiscal revenue growth turns positive in the third quarter, Sweden becomes the latest to ban Huawei Technologies from its 5G plan, and S&P Global Ratings’ onshore unit secures a licence to rate domestic bonds in the exchange market.

    • 23 Oct 2020
  • China issuers sneak into closing bond window

    A host of Chinese issuers found one of the last windows to sell bonds on Thursday ahead of the US presidential elections at the beginning of November and a public holiday in Hong Kong early next week.

    • 23 Oct 2020
  • Fosun-backed Gland Pharma gets Sebi nod for Rp60bn IPO

    Gland Pharma, a subsidiary of Shanghai Fosun Pharmaceutical Group, has won approval for its IPO from India’s securities regulator, according to a source close to the deal.

    • 23 Oct 2020
  • Vedanta returns loan, redeems bond after failed delisting

    Metals and mining company Vedanta Resources has returned the full amount of a $1.75bn loan and redeemed a $1.4bn bond after its plan to delist its Indian subsidiary failed to get enough support.

    • 23 Oct 2020
  • Lufax launches roadshow for $2.36bn US IPO

    Lufax Holdings, a personal finance services platform, has opened books for its offering of American depositary shares (ADS). It is aiming to raise up to $2.36bn.

    • 23 Oct 2020
  • Suriname to miss coupon payment, engage IMF amid liquidity squeeze

    Suriname’s new government said on Thursday that it would not make a coupon payment due next Monday on its $550m of 9.25% 2026s as it prepares for restructuring discussions. But with the Surinamese economy capable of generating high levels of hard currency, the focus could be on liquidity relief rather than principal haircuts.

    • 23 Oct 2020
  • Country Garden wraps up $1.5bn loan with 16 banks

    Chinese property developer Country Garden has closed a $1.5bn-equivalent dual currency loan, attracting seven participants during syndication.

    • 23 Oct 2020
  • Millicom, BRF find bid but Lat Am lull begins

    Two corporate deals on Monday and a tiny tap from a Paraguayan beef exporter on Wednesday were all investors had to choose from in Latin American primary bond markets this week as issuance remains light ahead of the US elections next month.

    • 22 Oct 2020
  • Petrobras continues debt reduction with $2bn buy-back

    Brazilian oil company Petrobras this week announced it will spend $1.95bn on repurchasing existing bonds via a tender offer, as the rapid pace of its reduction continues.

    • 22 Oct 2020
  • Neuquén creditors turn down improved restructuring offer

    A group of Neuquén’s bondholders swiftly rejected an improved debt restructuring offer this week, saying any reduction in interest payments on the Argentine province’s senior secured bonds cannot be justified.

    • 22 Oct 2020
  • Middle East issuers print rapid flurry of paper as election nears

    A sudden rush of deals from Middle East issuers hit the screens this week, giving the region its busiest week since early September.

    • 22 Oct 2020
  • Two EM deals pulled in a week, but last chance market open, say investors

    Two EM bond issuers beat hasty retreats from the primary market this week. But despite the challenges the pair faced, bankers and investors believe the market is open for borrowers looking to pick up a bit of funding ahead of what is expected to be a tortuous US election. Lewis McLellan reports.

    • 22 Oct 2020
  • Indian dual recourse flies as covered bond hopes build

    Dual recourse structures have become increasingly popular in India after last year’s debut from Kogta Finance. And with the sanctity of bankruptcy remoteness successfully tested in the courts, sentiment towards such structures has improved further. This could help pave the way for a national champion bank to test appetite for Indian covered bonds, which would offer the country's lenders a source of long-term diversified funding that they can't get from deposits.

    • 22 Oct 2020
  • People moves in brief

    Makinson Cowell joins Lazard — Vikas Seth moves into vice-chairman role at HSBC — Fernando Vicario picked as CEO of BofA's EU bank

    • 22 Oct 2020
  • Ulker pulls off ‘cheeky’ five year benchmark

    Ülker Bisküvi Sanayi scored an impressive $650m with a five year benchmark on Wednesday, surprising some investors with an unexpected increase to the size.

    • 22 Oct 2020
  • Canal+ Polska launches Warsaw IPO

    Emerging market IPOs have been one of the hottest themes in EMEA equity capital markets this year and issuance is set to continue as Canal+ Polska, the Polish television network owned by French TV service Canal+, launched its IPO on Thursday.

    • 22 Oct 2020
  • Ant comes closer to jumbo listing as investors vie for $35bn deal

    China’s Ant Group kicked off marketing for its Hong Kong and Shanghai dual listing on Thursday, the last stage before launching a possible $35bn IPO, set to be the world’s largest to date. The combined offering is already more than a third covered by onshore investors, with global buyers lining up for the rest. Addison Gong and Jonathan Breen report.

    • 22 Oct 2020
  • Updated: HK regulator fines Goldman $350m for 1MDB failures

    Hong Kong’s securities watchdog has fined Goldman Sachs $350m for regulatory failures in its work on bonds issued by the scandal-hit Malaysian state investment fund 1MDB, part of a multi-billion-dollar settlement with global regulators.

    • 22 Oct 2020
  • When a rose by any other name is asked to leave

    The theory of nominative determinism states that people tend to take jobs that fit their names: John Baker becomes a baker, Ted Milk becomes a dairy farmer, Fakey McBlowhard becomes a politician. But there are also names that are valuable, not so much because they affect your career choices but because there’s a good chance you might get confused for someone else.

    • 22 Oct 2020
  • Dim sum market surprises as ADBC sees hot demand for rare 10 year

    Agricultural Development Bank of China returned to the offshore renminbi market this week with a Rmb5.7bn ($854m) triple-tranche transaction. The deal featured a rare 10 year tenor in the dim sum market, showing the potential for more long-dated CNH funding. Addison Gong reports.

    • 22 Oct 2020
  • Meituan makes ‘stunning’ debut with $2bn bond

    Meituan, a Chinese e-commerce platform and food delivery company, sold its first dollar bond on Wednesday, netting $2bn on the back of an order book that reached $16bn at its peak.

    • 22 Oct 2020
  • Ukraine central bank strips reprimanded deputy of supervisory role

    The National Bank of Ukraine has stripped deputy governor Kateryna Rozhkova of her responsibility for banking supervision. The move follows the NBU’s official reprimand of Rozhkova and a colleague over a media interview.

    • 22 Oct 2020
  • JW Therapeutics opens $300m Hong Kong IPO

    JW (Cayman) Therapeutics set its IPO in motion on Thursday, opening the order book for the up to HK$2.3bn ($300m) deal.

    • 22 Oct 2020
  • UOB goes tight in Aussie dollars

    United Overseas Bank achieved the tightest spread for a five year floating rate bank issue in Australian dollars in over 10 years this week, issuing A$750m ($532.0m) to prove that there is still demand at decade-low levels.

    • 22 Oct 2020
  • Panama bonds head lower on third negative outlook

    Panama’s bonds traded lower on Wednesday, a day after Moody’s became the third agency to place the sovereign’s rating on negative outlook. Moody’s highlighted, however, that Panama’s broad bond market access remained a key credit strength.

    • 22 Oct 2020
  • Paraguayan protein company taps for $40m

    Frigorífico Concepción, the Paraguayan beef exporter, raised $40m in bond markets on Wednesday after a three-day sales process.

    • 22 Oct 2020
  • EM banker Seth joins HSBC

    HSBC has hired Vikas Seth for a vice-chairman position, where he will be tasked with serving the firm's emerging markets clients.

    • 21 Oct 2020
  • Singapore slings old 4% covered bond limit

    The Monetary Authority of Singapore (MAS) has substantially increased its covered bond issuance limit which had stood at 4% of assets on an issuer’s balance sheet. This, along with very strong market conditions, should help to induce the country’s borrowers, which have not printed in euros for more than two years, to make an appearance before the year is out.

    • 21 Oct 2020
  • FBN demonstrates African banks still have market access, despite local volatility

    First Bank of Nigeria became the first African bank to print a eurobond in 2020 on Tuesday, raising $350m despite a turbulent backdrop in Nigeria.

    • 21 Oct 2020
  • Turkey: sovereign wealth fund pulls as biscuit maker presses on

    Ülker Bisküvi Sanayi, a Turkish biscuit manufacturer, is set to come to market for a benchmark bond on Thursday, attempting to print a deal in a market that the country’s sovereign wealth fund deemed too hostile to make its debut in.

    • 21 Oct 2020
  • ReNew Power uses tried and tested structure for $325m outing

    ReNew Power, the Indian renewable energy giant, brought a $325m green bond to the market on Tuesday. It offered investors a rare opportunity to buy a high yielding deal from the country, despite using a fairly unusual structure for its transaction.

    • 21 Oct 2020
  • Hon Hai puts together $1.4bn bond return

    Taiwanese electronics giant Hon Hai Precision Industry Co shook off trade war concerns to raise $1.4bn from the bond market on Tuesday.

    • 21 Oct 2020
  • Mapletree Trust goes for the top with S$650m placement

    Singapore-listed Mapletree Logistics Trust has raised S$650m ($479.8m) in fresh equity after boosting the size of its placement.

    • 21 Oct 2020
  • China Everbright debuts in dollars

    China Everbright, the Hong Kong asset manager, sold its maiden dollar bond on Tuesday.

    • 21 Oct 2020
  • ADBC adds 10 year to dim sum curve

    Agricultural Development Bank of China returned to the offshore renminbi market this week with a Rmb5.7bn ($854m) triple-tranche transaction that featured a rare 10 year tenor for dim sum bonds.

    • 21 Oct 2020
  • Dongfeng Nissan returns to old structure for auto ABS

    Dongfeng Nissan Auto Finance Co opted for a simpler structure for its return to China’s auto loan asset-backed securities market this week, pricing Rmb3.48bn ($521m) of senior notes on Tuesday.

    • 21 Oct 2020
  • Peak Re bags subordinated bond

    Hong Kong-based Peak Reinsurance Co rolled out a subordinated perpetual bond on Tuesday, netting $250m from the deal.

    • 21 Oct 2020
  • GDS Holdings covers HK secondary offering

    Chinese data centre operator GDS Holdings has covered the books for its Hong Kong secondary offering, just hours after launching a deal that could be worth about $1.6bn.

    • 21 Oct 2020
  • Asset World, Everbright raise green loans

    Thai hospitality firm Asset World Corp and Hong Kong’s China Everbright Environment Group both tapped the green loan market this week.

    • 21 Oct 2020
  • MMG gets $800m loan for Peru mine

    Minera Las Bambas (MLB), a subsidiary of Hong Kong-listed MMG, has raised an $800m loan from four Chinese banks.

    • 21 Oct 2020
  • Bolivia bonds slide on election but some see short-term benefits

    Bolivia’s dollar bonds traded lower for a second consecutive day on Tuesday as left-wing former finance minister Luis Arce looks set to assume the presidency. However, some argue that Arce is the best candidate for market stability, at least in the short term.

    • 21 Oct 2020
  • Petrobras wraps latest LM with $2bn buy-back

    Brazilian oil company Petrobras will continue the rapid reduction of its debt burden after completing a tender offer under which it will spend $1.95bn on repurchasing existing bonds.

    • 21 Oct 2020
  • PLN scraps $300m loan on government support

    Indonesian state-owned electricity company Perusahaan Listrik Negara has cancelled a $300m loan, after receiving a capital injection from the government.

    • 21 Oct 2020
  • Naftogaz yanked despite strong market conditions

    Naftogaz of Ukraine elected to pull its long six year benchmark bond from the market on Monday, postponing it indefinitely.

    • 20 Oct 2020
  • Asian bank pair take Aussie trip

    A pair of Asian banks tapped the Australian dollar bond market for a combined A$1.25bn ($880m) on Tuesday. A number of banks have visited the Aussie market in recent weeks to great success, and more are set to follow.

    • 20 Oct 2020
  • China streamlines credit ABS registration

    China has announced a new registration system for credit asset-backed securitization (ABS), cutting the time it will take bankers and their clients to bring new deals to the market.

    • 20 Oct 2020
  • China’s sovereign bond: a missed SRI opportunity

    China wowed investors last week with a $6bn 144A bond amid a trade war with the US, but it missed a chance to solidify its credentials in the socially responsible bond market.

    • 20 Oct 2020
  • Simcere Pharma nets $461m from top-end pricing

    Simcere Pharmaceutical Group has bagged HK$3.57bn ($460.6m) from its IPO, after sealing the offer at the top end of the price guidance, according to a source familiar with the deal.

    • 20 Oct 2020
  • KDB uses Covid label to raise $1bn

    Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.

    • 20 Oct 2020
  • CDB entices investors with dollars, euros

    China Development Bank (CDB) raised nearly $3bn from dollar and euro bonds on Monday, appealing to investors due to its rarity in the debt market.

    • 20 Oct 2020
  • Sembcorp bags S$100m Sora-linked loan

    More Singaporean companies are making the transition to a new local currency benchmark rate in preparation for the end of Libor, with Sembcorp Industries becoming the latest firm to raise a loan linked to Sora.

    • 20 Oct 2020
  • Ant wins approval for Hong Kong leg of $30bn listing

    Ant Group has got the go ahead from regulators for the Hong Kong portion of its dual listing, which is expected to raise around $30bn in the largest ever primary share offering globally.

    • 20 Oct 2020
  • Mapletree eyes S$650m for property acquisitions

    Singapore-listed Mapletree Logistics Trust is funding an acquisition spree of logistics assets in Asia by tapping the equity market for up to S$650m ($479m).

    • 20 Oct 2020
  • Shimao Services launches $1.3bn Hong Kong IPO

    Shimao Services has joined the stream of Chinese property managers listing in Hong Kong this year, kicking off bookbuilding for its up to HK$10.1bn ($1.3bn) IPO.

    • 20 Oct 2020
  • Pan Brothers under pressure to meet loan refi

    Indonesia’s Pan Brothers has requested Moody’s to withdraw its corporate issuer rating after a spate of downgrades this year, as the textile company struggles to put together a loan to meet some of its looming maturities.

    • 20 Oct 2020
  • Millicom tightens and trades up on huge book

    emerging market telecoms company Millicom International Cellular notched a bumper order book on Monday as it raised $500m to refinance a bond maturing in 2025. After a tough allocation process, the bond traded strongly in the grey market.

    • 20 Oct 2020
  • JW Therapeutics pre-markets Hong Kong IPO

    JW (Cayman) Therapeutics has launched pre-deal investor education for its Hong Kong IPO, setting the final stage of the deal ahead of launch in motion.

    • 20 Oct 2020
  • BRF leaves little on the table with long tap

    Brazilian foods company BRF increased the size of a tap of its recently issued 2050 bonds on Monday, issuing at exactly the same reoffer level as a month ago.

    • 20 Oct 2020
  • ANZ promotes Corrin to corporate finance head

    Veteran loans banker John Corrin has been promoted to head of corporate finance, international, at ANZ, a newly created position that will give him oversight of a larger business.

    • 20 Oct 2020
  • Goldman preps rare royalty-backed bond for Delek

    Goldman Sachs is marketing a new high yield bond for Delek Energy, backed by the royalty payments to come from the Leviathan gas field off the coast of Israel. The financing is effectively super senior to a $2.25bn bond issued in the summer, and ekes out extra debt capacity, borrowing financial technology common in the US shale industry and applying it to a new, Israeli context.

    • 19 Oct 2020
  • Naftogaz hits screens for six year benchmark

    Naftogaz announced on Monday that it was coming to market for a six year dollar benchmark — its first of the year. The initial price thoughts indicated a substantial cheapening since its last trip to the bond market in November 2019.

    • 19 Oct 2020
  • Middle East trio lines up dollar benchmarks

    Three borrowers in the Middle East are set to come to market for dollar benchmarks this week with a sudden rush of mandate announcements after a quiet few weeks in the region's debt capital markets.

    • 19 Oct 2020
  • E-commerce the hot ticket in Europe’s IPO market

    E-commerce listings have been been a high point of equity issuance during the second half of 2020, with the sector generating strong returns for investors. Most of the year’s listings have been completed, but banks are already working on deals from the sector for 2021.

    • 19 Oct 2020
  • China’s SDIC recharges with $201m GDR listing

    Shanghai-listed SDIC Power Holdings has priced its $200.6m London offering of Global Depository Receipts (GDRs) at the bottom of the marketed range.

    • 19 Oct 2020
  • China revamps 25-year-old commercial bank law

    China has unveiled major revisions to its law governing commercial banks, with the changes set to help strengthen corporate governance and the risk disposal mechanism of domestic lenders.

    • 19 Oct 2020
  • VPBank Finance makes quick return for $150m

    VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has made a rapid return for a $150m loan.

    • 19 Oct 2020
  • SocGen appoints Apac sustainable finance head

    Société Générale has appointed Yasmine Djeddai as head of sustainable finance for Asia Pacific, a newly created position set up to leverage opportunities around environmental, social and governance-related financing in the region.

    • 19 Oct 2020
  • Goldman-backed ReNew Power eyes US listing

    ReNew Power, an Indian solar and wind power producer, is looking to the US for a potential IPO, according to a source familiar with the matter.

    • 19 Oct 2020
  • Nanofilm Tech revives SGX with $346m IPO

    Nanofilm Technologies International is giving the Singapore Exchange some much-needed IPO activity, launching the first main board listing on the bourse since the beginning of the year.

    • 19 Oct 2020
  • China Minsheng floats $500m bond

    China Minsheng Banking Corp sold a floating rate bond through its Hong Kong branch last Friday, nabbing $500m from the club-style transaction.

    • 19 Oct 2020
  • The week in review: China’s economic recovery continues, Beijing rolls out export control law, revamps commercial bank law

    In this round-up, China's economic rebound strengthens in the third quarter, the country’s legislature passes a new law on export control to protect sensitive technology, and the law governing commercial banks faces major revisions.

    • 19 Oct 2020
  • Paraguayan protein company lines up tap

    Frigorífico Concepción, the Paraguayan beef exporter, could return to bond markets this week with a tap of its 10.25% senior secured notes maturing in January 2025.

    • 19 Oct 2020
  • Akbank secures loan at competitive rates despite crisis

    Turkey’s Akbank has raised a $700m one year syndicated loan. The deal was priced at 250bp over Libor and 225bp Euribor.

    • 16 Oct 2020
  • Millicom dials in ESG facility as Lat Am turns greener

    Millicom International Cellular, the Luxembourg-headquartered telecoms company, has refinanced its main bank credit line with one linked to environmental, social and governance metrics. It claims this is one of the first such deals for Latin America through its reach into the region.

    • 16 Oct 2020
  • Ninebot sets price for China’s first CDR listing

    Xiaomi Corp-backed electric scooter maker Ninebot has set the issue price for its Rmb2.08bn ($309m) IPO on Shanghai’s Star market, the first offering of depository receipts in China.

    • 16 Oct 2020
  • China policy and markets round-up: CPI inflation slows, September import growth surprises, US mulls sanctions on Ant Group

    In this round-up, China’s September inflation data disappoints, import volume beats expectations by a large margin, and Ant Group might be added to the trade blacklist by the US ahead of its jumbo IPO.

    • 16 Oct 2020
  • Indika fires up $450m bond comeback

    Indonesia coal producer Indika Energy was back in the debt market on Thursday with a $450m bond.

    • 16 Oct 2020
  • ABC, BOC Investment add to FIG spree

    Agricultural Bank of China and Bank of China’s investment arm tapped the bond market on Thursday, joining a host of other issuers that also sought fresh funding.

    • 16 Oct 2020
  • Bond bonanza in Asia as corporates go for dollars

    Asia’s dollar bond market has been swamped with new deals this week. Thursday was no different, with corporate borrowers from Greater China alone raising just over $3bn between them.

    • 16 Oct 2020
  • UnionBank returns to dollars

    Union Bank of the Philippines (UnionBank) made a rare outing in the dollar market on Thursday, competing with hefty supply from Greater China to raise $300m.

    • 16 Oct 2020
  • Inventec boosts loan to $500m

    Taiwan-based notebook computer maker Inventec has increased the size of its revolving loan to $500m after attracting 11 participants during syndication.

    • 16 Oct 2020
  • KWG Living, Radiance kick off IPO roadshows

    KWG Living Group Holdings, a property manager, and real estate developer Radiance Holdings launched bookbuilding for their Hong Kong IPOs on Friday.

    • 16 Oct 2020
  • Ukraine hopeful of unblocking $5bn IMF loan amid legal rows

    A legal ruling that appears to cast doubt on the independence of Ukraine’s anti-corruption unit has delayed a loan from the IMF and comes in the wake of a row over a decision to ‘reprimand’ two independent members of the country’s central bank

    • 15 Oct 2020
  • Mexico says budget not austere as IMF, investors say spend

    As even the IMF asks Mexico to spend more to prop up the economy during the Covid-19 crisis, deputy finance minister Gabriel Yorio denied accusations that the country’s forthcoming budget was austere. Despite concerns in the market about the lack of policy support for the economy, some investors see value in the country’s bonds.

    • 15 Oct 2020