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21 Aug 2018   Projects, Africa

Mixta Africa CFO on Affordable Housing Initiative, High Cost of Funding and Advice for Borrowers

With pressure on high-yield assets and non-investment grade credit across EMs, Mixta Africa, an African property developer and fast-rising player in the continent’s real-estate market, is doubling down on its corporate principles – including adaptive product development, low cost land acquisition and establishing local communities – to navigate those challenges. Bonds & Loans speaks with Benson Ajayi, Executive Director and Chief Financial Officer for Mixta Africa about this and more.

Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead

EM FX stabilized last week as the situation in Turkey calmed somewhat. Reports Friday that the US and China are hoping to resolve the trade dispute also helped EM FX ahead of the weekend. However, TRY remains vulnerable as the US threatens more sanctions due to the pastor. Both S&P and Moody’s downgraded it ahead of the weekend and our own ratings model points to further downgrades ahead. Turkish markets are closed this week for holiday.

A US-China Trade Dispute May Be Good for Latin America

Latin America may have more to gain than lose in a U.S.-China trade dispute, so long as it does not spiral into a recession-provoking trade war, writes John Price.

Luft Energia CEO Doris Capurro Eyes Multilaterals, ECAs for Argentina Renewables Funding

Doris Capurro, President, CEO & Founder, Luft Energia talks to Bonds & Loans about the company’s renewable energy development plans, and its bid to tap into multilateral development institutions and export credit agencies to help finance the next wave of projects in the pipeline.

Russia Seeks to Mobilize Internal Reserves Amid Dollar Liquidity Shortage

The Russian Central Bank tentatively confirmed that the banking sector is experiencing a dollar liquidity deficit. In an apparent push to de-dollarize the economy, it may for now resist from intervening, hoping to encourage more local currency borrowing. But inaction could pile additional pressure on the rouble in coming months.

African Trade Insurance Agency: Sovereign Debt, Current Account Balances Need Watchful Eye

How is the current macro environment – rising interest rates, a global escalating trade war, and elevated regional sovereign debt – influencing East African markets? John Lentaigne, Chief Underwriting Officer at African Trade Insurance Agency, speaks with Bonds & Loans about the economic outlook in some of the region’s largest economies.

Barings: Brazil's Industrial Production Soars in June after Truckers' Strike Ends

Brazil’s current account balance came in at a surplus of USD435mn in June, below the USD1.3bn surplus registered in the same month last year.

Eskom is Running Out of Options – and so is the Government

Eskom, South Africa’s scandal-plagued state-owned power utility, has embarked on an ambitious overhaul of its balance sheet, governance structure and approach to the markets as it looks to overcome allegations of corruption and mismanagement. Analysts are split on whether it will be enough.

Interview: Sharjah DMO Director on the Building Boom in UAE, ECA Financing and PPPs

With trade wars and geopolitics-related volatilities engulfing global markets, the GCC finds itself in an unusual role of a relative safe-haven, insulated from the tremors by strong growth and a high oil price. We speak to Tom Koczwara, Director of the Government of Sharjah’s Debt Management Office, about prospects and challenges facing the Emirate.

2019 Elections Weigh on Nigeria’s Outlook Despite Broad Economic Improvement

As the debt capital markets continues to deepen in Nigeria and the fundamentals continue to stabilize, upcoming elections and simmering security threats look set to test investor and borrower conviction.

 

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