Government

Asli  Orbay Asli Orbay Reporter, Arbitration and Litigation, Debtwire CEEMEA

Still reeling from the aftermath of the currency crisis in Summer 2018, Turkish corporates are poorly positioned to weather a fresh storm caused by the coronavirus pandemic, according to market participants polled by Debtwire.

Newly issued Belarusian sovereign Eurobonds continue to trade with wide spreads on mounting investor concerns ahead of the 9 August presidential elections. A peaceful transition of power in the style of the 2018 Armenian ‘Velvet revolution’ is the most desirable but nearly impossible outcome for the country which has been under the strong grip of Aliaksandr Lukashenka for the last 26 years, agreed most of the experts polled by Debtwire.

Asli  Orbay Asli Orbay Reporter, Arbitration and Litigation, Debtwire CEEMEA

The Kingdom  of Bahrain enacted a new bankruptcy law in December 2018, sweeping away its previous legislation and replacing it with a thoroughly modern toolkit. The law is a revolutionary improvement compared to what existed before, said lawyers polled by Debtwire.

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.

Tomas  Cutts 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.

Laura  Gardner Cuesta 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.

Laura  Gardner Cuesta 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.

Tomas  Cutts 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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