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Displaying: Emerging Markets
logo Alexander Dooler Credit Markets Reporter, Debtwire

Vostochny Bank’s (Orient Express Bank) partial sale of its retail loan portfolio might not raise sufficient funds to comply with the central bank regulations and shareholder support is likely to be necessary to bolster its capital, agreed five sources polled by Debtwire. The Russia-based private bank needs to boost its capital levels by end-August to avoid a mandatory conversion of subordinated debt into equity or its principal write-down.

With few signs that a financial fix for Turkey’s debt-laden energy sector – proposed by the government earlier this year – is any closer to materialising, concern is mounting that not enough is being done to achieve an urgently needed operational turnaround in the industry, several market participants told Debtwire.

logo Tomas Cutts Reporter, Russia & CIS, Debtwire

Ukrainian bonds have had a roller-coaster week so far but have recovered to levels above last Friday’s (24 May) close, following supportive comments from President Volodymyr Zelensky’s team and a global investor call held by the country’s ministry of finance on 29 May, according to an analyst and a trader.

logo Laura Gardner Cuesta Senior Reporter, Debtwire CEEMEA

As Ukraine’s tightly contested presidential race enters its last stretch this week, policy uncertainty is expected to dominate until a very likely second round of elections in April, if not until the October parliamentary polls, market participants told Debtwire. This uncertainty spells bad news for a country reliant on external funding to make USD 20bn in sovereign and quasi-sovereign debt repayments between 2019 and 2021, they said.

logo Laura Gardner Cuesta Senior Reporter, Debtwire CEEMEA

Mozambique continues at the heart of a dramatic debt scandal which has left investors in wait-and-see mode, according to five market participants polled by Debtwire. The government's USD 727m 10.5% 2023 bonds have scarcely traded since January despite many enquiries, said a trader.

logo Asli Orbay Reporter, Arbitration and Litigation, Debtwire CEEMEA

The 2009 financial crisis may have been global, but its effects in each country had a distinctly local flavour. None more so, perhaps, than the United Arab  Emirates, where a highly mobile population of expats faced potential jail time over bounced cheques or defaults on loans.

logo Tomas Cutts Reporter, Russia & CIS, Debtwire

There was little reaction in the Republic of Kazakhstan’s Eurobonds yesterday (19 March) following a surprise resignation announcement from the country’s President, Nursultan Nazarbayev, after almost 30 years in power, according to three analysts, a trader and a political risk analyst.

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