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logo Chris Haffenden Managing Editor, CEEMEA, Debtwire

As Ghana exits IMF support, Finance Minister Ken Ofori-Atta is talking up the prospects for the West-African nation harbouring grandiose ambitions for boosting infrastructure. A recent rebasing of its GDP saw its economy grow 30%, reducing its debt metrics to purportedly sustainable levels, but the latest expansionary budget received a thumbs down from investors, with its 2049 USD bond yields hitting double digits, potentially thwarting its issuance plans.

logo Nicole Tovstiga Reporter, Debtwire

CEEMEA bonds were under pressure again, with a plunging oil price prompting a mid-week sell off before prices settled down as US market participants celebrated Thanksgiving. In the Middle East, spreads widened on the oil market collapse, and liquidity worsened in the CIS/Russian Eurobond market, according to an UAE-based asset manager, a Moscow-based analyst and a London-based trader.

logo Laura Gardner Cuesta Senior Reporter, Debtwire CEEMEA

This week’s collapse in oil prices has sent shockwaves across the GCC credit space, said two UAE-based asset managers and a London-based banker. Both WTI and Brent crude hit a three-year low on Tuesday (13 November), and although prices had stabilised by Thursday, a negative mood has set in, they said.

logo Laura Gardner Cuesta Senior Reporter, Debtwire CEEMEA

The Government of Mozambique’s proposal to restructure its 10.5% 2023 sovereign bonds, submitted today (6 November), is an important step toward reaching a final agreement, according to four market participants. However, questions remain regarding the timeline for implementation, the possibility holdout creditors may drag their feet, and the likely net present value (NPV) recovery rate.

logo Matt O'Brien Content Editor, Acuris Studios

Strong GDP growth and unremarkable Q2 corporate profits have imbued investors with confidence for the time being while a slightly weaker dollar is welcomed news for vulnerable emerging market economies; will a new trade deal with Mexico and a hypothetical dollarized Venezuela keep Latin America out of EM turmoil?    

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