Investors have seemed transfixed lately by endless news headlines on the path of monetary policy. But fiscal policy outcomes have far-reaching impacts on long-run growth and fundamentals in the world’s economies. On that score, many regions continue to wrestle with the challenges of deficits and debt.
The BRICS’ invitation to six more nations to join their group is an important initiative promoting greater global influence for major EM countries.
For emerging-market debt (EMD), 2022 is shaping up to be a contest of conflicting forces.
Emerging-market sovereign debt has rebounded sharply off the lows, but this hard-hit sector offers attractive yields and compelling growth opportunities to discerning investors.
Emerging markets (EM) are at a crossroads. The impact of COVID-19 aggravates pre-existing challenges. But it also enables those EM economies that respond effectively to create better conditions for the future.
When I landed in the brand-new airport in Nigeria’s capital of Abuja I was taken by the modern and cavernous nature of its terminal, a reflection of the country’s future ambitions. One of Africa’s best airports, in Accra, Ghana, also boasts a new terminal.
Africa’s two largest economies will hold elections this year, and there’s a good chance the outcomes will lead to slightly faster growth and higher asset prices. But rising populism and nationalism remain a longer-term risk.