
GlobalMarkets (formerly known as Emerging Markets) is the newspaper of record at the IMF/World Bank, European Bank for Reconstruction & Development (EBRD), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and Inter-American Development Bank (IADB) annual meetings. Click here for more information about GlobalMarkets.
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Spotlight on IMF as Lagarde refuses to pull Saudi visit
Despite a flurry of announcements by business leaders that they were abandoning their visits to a Saudi conference amid claims of the torture and murder of a journalist, IMF boss Christine Lagarde said she would go to Riyadh to “speak my mind”.
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Uncle Sam’s Belt & Road: US throws down $60bn gauntlet to China
The creation of a new, larger American international development body is being seen as a direct challenge to China’s use of its Belt and Road Initiative to exert soft power in Africa and Latin America.
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Europe’s push for greater global influence driving EIB-EBRD tie-up talks
Moves for a closer alliance between European’s two main development institutions appear to be accelerating, as France exerts diplomatic pressure to boost the continent’s soft power.
FEATURES and OPINION
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Hob and spoke: the Indonesia start-ups that morphed into an Asian giant
The Indonesian founders of a social enterprise to help rural women cook and a platform for bike taxis combined their operations to form GoPay, a payments system that has become the largest digital wallet in southeast Asia.
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Philippines moves to keep growth on track
The Philippines is one of the fastest-growing economies in the world. But have infrastructure shortfalls, weak tax revenues and tight rules for foreign companies held the country back from even faster growth? Sonny Dominguez, the country’s finance minister, intends to find out.
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Goldfajn: Fiscal reforms crucial for sustainable recovery
Brazil’s central bank governor Ilan Goldfajn tells GlobalMarkets he is determined to push through the pension reform that would prevent the fiscal deficit spiralling out of control.
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Supranationals to copy African Development Bank’s securitization breakthrough
Private investors are reluctant to co-invest with development banks in poor countries. A potentially exciting alternative is securitization, which allows investors to take slices in whole portfolios and could expand the MDBs’ lending firepower.
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Fragile state: World Bank poverty target rests on weakest economies
If the World Bank is to hit Jim Yong Kim’s target to end extreme poverty, it will have to find a solution for the 2 billion people living in fragile states
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IMF strives to get its multilateral mojo back
The IMF needs to take steps to bolster its reputation as the guardian of multilateralism, ahead of a possible meltdown in emerging markets that could put the Fund centre stage of any rescue effort.
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FINAL WORD: Günther Bräunig
International co-operation now more important than ever
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FINAL WORD: Sri Mulyani Indrawati
ASEAN has the spirit of perseverance
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FINAL WORD: Steve Keen
We’ll overcome our debt problems by accident
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FINAL WORD: Ngozi Okonjo-Iweala
Development finance institutions are catalysts for a better world
DAILY PAPERS
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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BBVA EUR750m 2.572% Feb 29 T2
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Société Générale EUR1.75bn 1.25% Feb 24 non-preferred senior
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UniCredit EUR1bn 4.875% Feb 29 tier two
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Zurich Insurance EUR500m 2.75% Feb 49 tier two
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Turkey USD2bn 5.8% Feb 22 sukuk
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Latvia EUR700m 1.875% Feb 49
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Uzbekistan USD500m 4.75% Feb 24, $500m 5.375% Feb 29
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Bank of England USD2bn 2.5% Feb 22
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Balearic Islands EUR400m 1.549% Nov 28
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FMO USD500m 2.75% Feb 24 green bond
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AFD EUR700m 0.375% Apr 24 tap
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EFSF EUR3bn 0% Apr 24, EFSF EUR1.5bn 1.7% Feb 43 tap
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EDC USD2bn 2.625% Feb 24
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EIB USD3bn 2.625% May 22
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KfW GBP750m 0.875% Mar 22 tap
All International Bonds
Rank | Lead Manager | Amount $m | No of issues | Share % |
---|---|---|---|---|
1 | Citi | 60,274.44 | 194 | 8.13% |
2 | JPMorgan | 59,428.00 | 214 | 8.02% |
3 | Barclays | 51,688.09 | 168 | 6.97% |
4 | Bank of America Merrill Lynch | 42,506.65 | 151 | 5.74% |
5 | HSBC | 40,145.65 | 182 | 5.42% |
Bookrunners of All Syndicated Loans EMEA
Rank | Lead Manager | Amount $m | No of issues | Share % |
---|---|---|---|---|
1 | Bank of America Merrill Lynch | 6,160.68 | 5 | 15.90% |
2 | Deutsche Bank | 3,400.72 | 4 | 8.77% |
3 | Commerzbank Group | 2,532.05 | 5 | 6.53% |
4 | Citi | 2,513.95 | 6 | 6.49% |
5 | BNP Paribas | 1,742.18 | 7 | 4.49% |
Bookrunners of all EMEA ECM Issuance
Rank | Lead Manager | Amount $m | No of issues | Share % |
---|---|---|---|---|
1 | UBS | 998.25 | 3 | 13.32% |
2 | Citi | 693.55 | 2 | 9.26% |
3 | Morgan Stanley | 572.72 | 3 | 7.64% |
4 | Bank of America Merrill Lynch | 509.34 | 3 | 6.80% |
5 | Jefferies LLC | 409.89 | 4 | 5.47% |