Speevr logo

ZAMBIA: Restructure or else…?

Teneo-Europe-Report

●  Zambia’s payment position has steadily deteriorated, but the pandemic-related shock may well prove to be the tipping point, as suggested by recent news that the government will seek to restructure USD 11.2bn worth of external debt. ● The next Eurobond coupon payment worth U…   Become a member to read the rest of this […]

MOZAMBIQUE: More than one emergency

Teneo-Europe-Report

In a late-night session on 31 March, the National Assembly approved President Filipe Nyusi’s state of emergency declaration, which applies from 1 to 30 April, in response to the Covid-19 pandemic. However, Mozambique now faces multiple emergencies: not only the pandemic itself bu…   Become a member to read the rest of this article

ECUADOR: Guayaquil outbreak to create new debt pressures and political risks

Teneo-Europe-Report

The government is struggling to contain the Covid-19 outbreak in the local epicenter of Guayas province, whose capital – Guayaquil – is the country’s economic hub. As of this morning (local time) on 1 April, there were 2,748 confirmed Covid-19 cases across the country, and 93 dea…   Become a member to read the rest […]

ECUADOR: Government acts to ward off default siren calls

Teneo-Europe-Report

The government has fended off pressure to declare a debt moratorium and is instead set to secure additional external funding that will help in the struggle to contain the COVID-19 outbreak and keep the acutely fragile economy afloat. However, pressure to suspend debt payments hig…   Become a member to read the rest of this […]

MOZAMBIQUE: IMF mission delayed

Teneo-Europe-Report

The International Monetary Fund (IMF) has postponed its planned negotiating mission to Maputo on account of the COVID-19 pandemic. While this injects uncertainty into the question of timing, both the IMF and government seem intent on concluding a new financing deal eventually. …   Become a member to read the rest of this article

Sovereign Debt: OFZ Rally is a Problem for the Finance Ministry

Sovereign Debt: OFZ Rally is a Problem for the Finance Ministry | Speevr

Despite the new round of anti-Russian sanctions and the increase of global turbulence in the first half of August, the OFZ market remains calm. We believe that it still contains fundamental value as inflation continues to slow down in Russia, which creates ground for further rat…   Become a member to read the rest of […]