EMerging Equity
IMF
Zambia’s Currency Is Golden This Year As It Surges With Precious Metals
Zambia’s currency has performed better than 150 other currencies so far this year, and is expected to rise further as metal prices continue to rise. The Zambian kwacha suffered the world’s third-worst performance in 2015 falling 42 percent against the dollar, but has recovered to become this year’s best performer. A report from ETM Analytics, obtained by Bloomberg, shows that Zambia’s … Continue reading
Secular Stagnation Would Be The Best Case, But It’s Not Even Realistic
By Jeffrey P. Snider, Alhambra Investment Partners The IMF released the first 2016 edition of its World Economic Outlook (WEO). Titled Too Slow For Too Long, it seems as if the institution has finally caught on to the fact that the global recovery never really was a recovery. Throughout the report you get the sense that they … Continue reading
Lost Faith In Central Banks And The Economic End Game
By Brandon Smith We live in strange economic times, stranger perhaps than at any other point in history. Since 2007-2008, the globally intertwined and dependent fiscal system has suffered considerable declines in every conceivable area. Manufacturing around the world is in a slump, from Japan to China to Europe, with the minimal manufacturing accomplished in the … Continue reading
IMF Urges Nigeria To Devalue Currency As Its Economy Crumbles
The IMF is urging Nigeria’s Central Bank to devalue its local currency, the naira, and to remove curbs on access to foreign exchange as part of a package of aggressive economic policies in order to counter the impact of low oil prices, according to a statement released on Wednesday. Nigeria, Africa’s largest economy and largest crude producer, an OPEC member state, … Continue reading
The Change In Demand For Debt: The New Landscape In Low-Income Countries
By Andrea F. Presbitero and Min Zhu Many low-income developing countries have joined the group of Eurobond issuers across the globe— in sub-Saharan Africa (for example, Senegal, Zambia, and Ghana), Asia (for example, Mongolia) and elsewhere, raising over US$21 billion cumulatively over the past decade. Tapping these markets provides a new source of funds, but … Continue reading
The New Global Financial Cold War
Suppose a country owes money to another nation’s government or official agency. How can creditors collect, unless there’s an international court and an enforcement system? The IMF and the World Bank were part of that enforcement system and now they’re saying: ‘We’re not going to be part of that anymore. We’re only working for the … Continue reading
Weak Pickup In Global Growth, With Risks Pivoting To Emerging Markets
Global growth forecast revised down—3.4 percent in 2016 and 3.6 percent in 2017 Emerging market and developing economies facing increased challenges Key risks relate to China slowdown, stronger dollar, geopolitical tensions, renewed global risk aversion The pickup in global growth is weak and uneven across economies, with risks now tilted toward the emerging markets, says … Continue reading
Saudi Arabia: Debt Default Looms As IMF Sees Years Of Austerity Ahead
The International Monetary Fund (IMF) estimates that years of higher taxes and low fuel subsidies lie ahead for oil-rich Saudi Arabia as crude oil prices have plunged over 70 percent in 18 months and that weaker players could soon start to default on debts. Saudi Arabia must stop relying so heavily on oil revenues, which make up over 80 percent … Continue reading
Russia Proposes Launching BRICS Global Bond
Russia’s Central Bank is discussing with fellow BRICS emerging market nations — Brazil, (Russia), India, China, and South Africa — on the creation of BRICS global bonds, the Central Bank’s First Deputy Governor Sergey Shvetsov said on Wednesday, Russia’s TASS News Agency reports. “We are looking for the point where we have mutual interests, the New Development Bank … Continue reading
BRICS Gets Greater Say In IMF
For the first time the four emerging market economies Brazil, Russia, India and China have entered the International Monetary Fund’s top 10 biggest members. The IMF’s 2010 quota and governance reforms have finally come into force. The entry into force of these reforms will reinforce the credibility, effectiveness, and legitimacy of the IMF, read the … Continue reading
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