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Maturing debt markets anchor emerging economies’ resilience, V-shaped recovery
Jason G. Wulterkens (November 19th, 2009) Writes:
The following appeared in the November issue of Business Diary Botswana:
Despite the IMF’s recent projection that Botswana’s economy will contract 10.3% this year, the lender expects a 4.1% uptick next year such that emergency funding would not be required. Back in June the country tapped a $1.5bn “budget support loan” from the African Development Bank–the largest such facility ever granted by the Bank–in order to finance part of a budget deficit then estimated at around 13.5% of GDP, and since revised to 14%. The IMF cited a renewal of demand for diamonds as a central facet of its optimistic forecast. Furthermore, it predicted, GDP growth across sub-Saharan Africa will rise to approximately 4% next year and 5% in 2011, up from 1.1% in 2009. “We think it should be possible for sub-Saharan Africa to recover quicker this time around and have a ‘V-shaped recovery,’”
...Absa Capital, Africa, Antoine van Agtmael, Antoinette Sayeh, Argentina, bank supervisors, Basel, Botswana, capital raising solutions, central Asia, Central Banks, ceo, chairman and CIO, CIO, Daniel Broby, Development Bank, director, Ecuador, Emerging Markets Management LLC, Frontier Markets, Frontier Markets, Global Quantitative Management, Globalizing Financial Systems, Gross national product, Hashemite University in Jordan, head, Head of African Research, insurance industries, International Monetary Fund, Investing Lessons, investment banking group, jason g wulterkens, Jason Toussaint, Jordan, Jpmorgan, Kenya, London, Middle East, Mohamed Bahaa, Nigeria, Northern Trust, observer, Pakistan, Per Daniel Broby, Philip Turner, Razia Khan, secretariat group, senior investment strategist, Silk Invest, Standard Chartered Bank Group, Stephen van Coller, sub-Saharan Africa, Tanzania, then-BIS head of the secretariat group, Ukraine, United States, USD
Singapore, Sweden and Denmark round out the top five.
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