Credit Currents - Moody's Ratings

US-Iran Ceasefire: The Risks Affecting Credit Markets

podcasts@moodys.com (Nick Hill, Chandra Ghosal) — Thu, 9 Apr 2026 10:42:47 +0000

A temporary truce between the US and Iran is contingent on the reopening of the Strait of Hormuz, but disruptions to global supply chains, energy markets, oil prices and various sectors are still risks to credit quality.

In our latest episode of Credit Currents, taped hours before the news broke, we discuss the ways geopolitical shocks ripple through sectors, whether there could be an impact on issuer ratings or outlooks, and why some sectors like defense are less affected.

Host: Chandra Ghosal, Vice President, Senior Credit Officer, Moody’s Ratings

Guest: Nick Hill, Global Head of Credit Strategy and Guidance, Moody’s Ratings

Related Research:

© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

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Why Netflix is Still a Winner After Bidding War with Paramount

podcasts@moodys.com (Emile El Nems, Patrick Ronk) — Thu, 2 Apr 2026 02:00:00 +0000

Streaming giant Netflix withdrew its bid for Warner Brothers Discovery on the eve of this year’s Oscars, but it doesn’t mean Paramount has won the battle for dominance over the media landscape. Regulators still must approve the deal, and Paramount’s offer comes with huge debt.

In this first episode of Credit Currents, a new video podcast series from Moody’s Ratings, we reveal the stakes at play for traditional film and TV studios, the exponential value of intellectual property (IP), and how massive acquisitions can create credit risk.

We also consider the potentially significant impact of AI on viewing habits and customer preferences.

Host: Patrick Ronk, Vice President, Senior Analyst, Moody’s Ratings

Guest: Emile El Nems, Vice President, Senior Credit Officer, Moody’s Ratings

Related Research:

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Introducing: Credit Currents, a new Moody's Ratings video podcast

podcasts@moodys.com (Emile El Nems, Patrick Ronk) — Thu, 2 Apr 2026 01:00:00 +0000

In this first episode of Credit Currents, a new video podcast series from Moody’s Ratings launching on April 2, 2026, we reveal the stakes at play for traditional film and TV studios, the exponential value of intellectual property (IP), and how massive acquisitions can create credit risk.

We also consider the potentially significant impact of AI on viewing habits and customer preferences.

Host: Patrick Ronk, Vice President, Senior Analyst, Moody’s Ratings

Guest: Emile El Nems, Vice President, Senior Credit Officer, Moody’s Ratings

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Emerging market credit conditions will continue gradual, fragile improvement in 2025

podcasts@moodys.com (Vittoria Zoli, Colin Ellis) — Mon, 25 Nov 2024 13:30:00 +0000

Corporate and sovereign default rates are decreasing as GDP growth, slowing inflation and monetary easing aid debt management. But EMs face a number of credit risks including potential US tariffs.

Guest: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody’s Ratings

Host: Colin Ellis, Managing Director, Credit Strategy & Guidance, Moody’s Ratings

Related Research:

Emerging Markets – Global: 2025 Outlook - Stable but fragile, with looming credit risks

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How the US election could shape global credit conditions

Thu, 10 Oct 2024 06:00:00 +0000

In this joint Big Picture-Emerging Markets Decoded episode, our regional analysts highlight the key US policy areas to watch in Europe, Asia-Pacific and Latin America -- and discuss which economies and sectors could be at risk if policies were to dramatically change.

Guests: Sarah Carlson, Senior Vice President, Sovereign Risk Group, Moody's Ratings; Gong Cheng, Managing Director, Credit Strategy, Moody's Ratings; Ariane Ortiz-Bollin, Vice President - Senior Credit Officer, Credit Strategy, Moody's Ratings

Host: William Foster, Senior Vice President, Sovereign Risk Group, Moody's Ratings

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Positive credit stories emerging in a handful of Sub-Saharan African countries

podcasts@moodys.com (John Walsh, Vittoria Zoli) — Wed, 2 Oct 2024 17:04:34 +0000

Institutional reforms, policy reversals, debt restructurings and the prospect of new hydrocarbon production are leading to gradual improvement in some sovereigns’ creditworthiness from weak levels.

Guest: John Walsh, Analyst, Sovereign Risk Group, Moody's Ratings

Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings

Related Research:

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Geopolitical risk shapes creditworthiness for host of APAC governments

podcasts@moodys.com (Anushka Shah, Vittoria Zoli) — Mon, 16 Sep 2024 19:03:25 +0000

Risk exposure is highest for those directly involved in the region’s three main hotspots. But the knock-on economic effects of the tensions have the potential to hurt, or help, other APAC governments.

Guest: Anushka Shah, Vice President - Senior Credit Officer, Sovereign Risk Group, Moody's Ratings

Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings

Related Research:

Sovereigns – Asia-Pacific: Geopolitical risk shapes creditworthiness for a host of governments

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Corporate credit quality in India, Indonesia remains robust despite sectoral differences

podcasts@moodys.com (Sweta Patodia, Rachel Chua, Vittoria Zoli) — Mon, 2 Sep 2024 15:08:51 +0000

India's large domestic market shields its companies from external shocks, whereas Indonesia's export-dependent commodity sector prompts government efforts to diversify growth.

Guests: Rachel Chua, VP-Senior Analyst; Sweta Patodia, AVP-Analyst

Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings

Related Research:

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Latin American national oil companies face hurdles in reducing greenhouse gas emissions

podcasts@moodys.com (Roxana Munoz, Carolina Chimenti, Vittoria Zoli) — Mon, 19 Aug 2024 14:24:20 +0000

Challenges include the region’s reliance on fossil fuels to meet energy demand amid population growth, the companies’ weak financials and governments’ reliance on revenue from oil and gas producers.

Guests: Roxana Munoz and Carolina Chimenti, both Vice President - Senior Analysts, Corporate Finance Group, Moody's Ratings

Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings

Related research:

Oil & Gas – Latin America & Caribbean: National oil companies struggle to reconcile governments' emission-reduction goals

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Central bank push to tame inflation boosts credit quality of Turkish sovereign, companies

Mon, 5 Aug 2024 14:25:23 +0000

Rate hikes in Turkiye have slowed inflation, and confidence in the country’s currency is increasing. The sovereign’s creditworthiness is improving as a result, along with that of Turkish companies.

Guests: Kathrin Muehlbronner, Senior Vice President, Sovereign Risk Group, Moody’s Ratings; Iker Ballestero Barrutia, Analyst, Corporate Finance Group, Moody's Ratings

Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings

Related Research:

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Kenya protests highlight transmission of social risk to sovereign creditworthiness

podcasts@moodys.com (David Rogovic, Scott Phillips) — Mon, 22 Jul 2024 21:39:28 +0000

The opposition to proposed tax hikes impedes the government’s ability to increase revenue and reduce debt. Similar risks exist for other emerging market sovereigns too.

Guest: David Rogovic, Vice President - Senior Credit Officer, Sovereign Risk Group, Moody’s Ratings

Host: Scott Phillips, Head of Emerging Markets, Credit Strategy and Research, Moody’s Ratings

Related Research:

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Steady GDP growth continues for emerging markets, with wide variation by country

podcasts@moodys.com (Madhavi Bokil, Vittoria Zoli) — Tue, 9 Jul 2024 15:14:52 +0000

We have revised our aggregate EM forecast up slightly to 3.9% for 2024-25 to reflect faster-than-expected growth in some of the largest EMs so far this year. Disinflation continues but is slowing.

Speaker: Madhavi Bokil, Senior Vice President, Credit Strategy at Moody's Ratings

Host: Vittoria Zoli, Analyst, Emerging Markets at Moody’s Ratings

Related Research:

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South Africa’s creditworthiness with a new coalition government

podcasts@moodys.com (Aurelien Mali, Scott Phillips) — Mon, 24 Jun 2024 14:54:04 +0000

The creation of a coalition government following 29 May elections will likely support broad policy continuity and reforms, but the risk of government instability and ineffectiveness is significant.

Guest: Aurelien Mali, Vice President-Senior Credit Officer, Sovereign Risk Group, Moody's Ratings

Host: Scott Phillips, Associate Managing Director, Credit Strategy & Research, Moody's Ratings

Related research:

Government of South Africa: National unity government will likely support broad policy continuity and the pursuit of economic reforms

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Views from Moody’s Global Emerging Markets 2024 virtual event

podcasts@moodys.com (Scott Phillips) — Tue, 11 Jun 2024 14:18:08 +0000

Moody’s Ratings experts discuss the fragile recovery and new threats in EMs, including macro conditions, default trends, credit risks for sovereigns and corporates, and bright spots.

Host: Scott Phillips, Associate Managing Director, Moody’s Ratings

Related Research:

To learn more, visit the Emerging Markets topic page.

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Frontier markets: higher risk, higher potential returns

podcasts@moodys.com (scott philipps, Maciej Woznica) — Tue, 28 May 2024 14:16:52 +0000

Join Scott Phillips, head of EM at Moody’s Ratings, and Maciej Woznica, portfolio manager at asset management firm Coeli, for a tour of the least-developed emerging markets.

Guest: Maciej Woznica, Portfolio Manager, Coeli

Host: Scott Phillips, Associate Managing Director, Moody’s Ratings

Related Research:

Gradual recovery in emerging market credit conditions will continue (infographic)

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Speculative-grade default rate for emerging market companies improves with macro conditions

podcasts@moodys.com (Yang Liu, Scott Phillips) — Mon, 13 May 2024 12:00:00 +0000

The default rate will decline to 3.3% by the end of Q1 2025, far below the peak of nearly 15% at the end of 2022 which was driven by the Russia-Ukraine war and China’s property market woes.

Guest: Yang Liu, Vice President - Senior Analyst, Moody's Ratings

Host: Scott Phillips, Associate Managing Director, Moody’s Ratings

Related Research:

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Middle East: from geopolitical tensions to Islamic finance

podcasts@moodys.com (Moody's Ratings) — Tue, 30 Apr 2024 09:06:04 +0000

Moody’s analysts discuss the increased risk for sovereigns from escalation of the Israel-Iran conflict, and then shift to the growing demand for Islamic finance.

Guests: Christian Fang, Vice President – Senior Analyst, Sovereign Risk Group, Moody’s Ratings; Badis Shubailat, Assistant Vice President – Analyst, Financial Institutions Group, Moody’s Ratings

Host: Vittoria Zoli, Analyst, Emerging Markets, Moody’s Ratings

Related research:

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EM macro conditions are improving unevenly as GDP growth stabilizes and inflation slows

podcasts@moodys.com (Scott Phillips, Vittoria Zoli) — Mon, 15 Apr 2024 15:53:53 +0000

Growth will slow in 2024 then stabilize in 2025 in most emerging markets. We have raised our forecasts for Asia, Central-Eastern Europe, the Middle East and Africa but lowered them for Latin America.

Host: Scott Phillips, Head of Emerging Markets, Moody's Ratings

Speaker: Vittoria Zoli, Analyst - Emerging Markets, Moody's Ratings

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China’s push to shift economic growth engines faces hurdles but will benefit some EMs

podcasts@moodys.com (Gong Cheng, Vittoria Zoli) — Mon, 1 Apr 2024 11:00:00 +0000

It will take time and effort for sectors like tech and EVs to drive China’s GDP growth, and geopolitics is a risk. But emerging markets supplying relevant goods and services to China stand to benefit.

Guest: Gong Cheng, Managing Director - Credit Strategy, Moody's Ratings

Host: Vittoria Zoli, Analyst - Emerging Markets, Moody's Ratings

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Digging into key credit stories for emerging market sovereign investors across the globe

podcasts@moodys.com (Lillian Li, Ruosha Li, Ariane Ortiz-Bollin, Scott Phillips) — Mon, 18 Mar 2024 17:05:41 +0000

China’s 2024 policy priorities and influence across Asia, the state of European consumers, Romania’s fiscal deficit, Argentina’s economy and Ecuador’s state of emergency are among the top stories.

Guests: Lillian Li, Vice President – Senior Credit Officer, Moody’s Ratings; Ruosha Li, Vice President – Senior Analyst, Moody’s Ratings; Ariane Ortiz-Bollin, Vice President – Senior Credit Officer, Moody’s Ratings

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Ratings

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A focus on West Africa, where bright spots shine through political, security and climate risks

podcasts@moodys.com (Mickaël Gondrand, Scott Phillips) — Wed, 6 Mar 2024 16:01:17 +0000

Positive developments include strong GDP growth in Côte d’Ivoire and Senegal, a lifting of sanctions on Niger, and a few countries tapping international bond markets so far this year.

Speaker: Mickaël Gondrand, Assistant Vice President-Analyst, Sovereign Risk Group, Moody’s Investors Service

Host: Scott Phillips, Associate Managing Director, Emerging Markets, Moody's Investors Service

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State-contingent debt instruments gain traction in restructurings as sovereign defaults rise

podcasts@moodys.com (Scott Phillips, David Rogovic) — Tue, 20 Feb 2024 11:52:36 +0000

These instruments provide flexibility on debt-service payments and can help bridge differences in restructuring talks. Protracted talks delay critical structural reforms and increase default risk.

Guest: David Rogovic, Vice President – Senior Credit Officer, Sovereign Risk Group, Moody’s Investors Service

Host: Scott Phillips, Associate Managing Director, Emerging Markets, Moody’s Investors Service

Related Research:

State-contingent debt instruments can aid debt restructuring, but can carry fiscal risks

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Emerging market central banks lower rates while US Fed signals rate cuts are not imminent

podcasts@moodys.com (Vittoria Zoli, Scott Phillips) — Mon, 5 Feb 2024 21:05:58 +0000

Recent interest rate cuts in Brazil, Chile, Colombia and Hungary are among the signs that EM financial conditions are improving. The primary market for EM bond issuance is likely to remain strong.

Hosts: Scott Phillips, Associate Managing Director - Emerging Markets at Moody's Investors Service; Vittoria Zoli, Analyst - Emerging Markets at Moody's Investors Service

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Middle East, North Africa credit conditions are stable in 2024 despite elevated geopolitical risks

Mon, 22 Jan 2024 20:05:12 +0000

Conditions are more stable for sovereigns, banks and companies in the Gulf Cooperation Council region than in North Africa and Levant. An escalation of the Israel-Hamas military conflict is main risk.

Speakers: Christian Fang, Vice President – Senior Analyst, Sovereign Risk Group at Moody’s Investors Service; Badis Shubailat, Assistant Vice President – Analyst, Financial Institutions Group at Moody’s Investors Service; Rehan Akbar, Senior Vice President, Corporate Finance Group at Moody’s Investors Service

Host: Vittoria Zoli, Analyst, Emerging Markets at Moody’s Investors Service

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Five top-of-mind credit stories for EM sovereign investors in 2024

podcasts@moodys.com (Marie Diron, Scott Phillips) — Mon, 8 Jan 2024 19:45:11 +0000

Redefault risk in Argentina, general elections in South Africa, financial conditions and debt affordability in Egypt, monetary policy in Turkiye and economic growth in China are top stories this year.

Speaker: Marie Diron, Managing Director - Global Sovereign Risk - Moody's Investors Service

Host: Scott Phillips, Associate Managing Director - Emerging Markets, Moody's Investors Service

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COP28 climate summit highlights carbon transition risks for emerging markets

podcasts@moodys.com (Rebecca Karnovitz, Matt Kuchtyak, Natasha Brereton-Fukui) — Mon, 27 Nov 2023 16:10:12 +0000

Carbon transition, adaptation to climate change and climate finance – core topics at COP28 – are crucial for EMs because of their exposure to environmental risks and limited capacity to respond.

Speakers: Rebecca Karnovitz, VP-SCO – ESG Research & Outreach at Moody’s Investors Service; Matt Kuchtyak, VP-Sustainable Finance at Moody’s Investors Service

Host: Natasha Brereton-Fukui, SVP-Global ESG Research at Moody’s Investors Service

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Economic considerations underpin stable emerging market 2024 outlook

podcasts@moodys.com (Scott Phillips, Vittoria Zoli) — Thu, 16 Nov 2023 09:41:02 +0000

EM GDP growth will slow, largely because of China’s slowdown. Export-led EMs will suffer from weak global trade activity, but domestic-focused EMs will fare better. Pockets of inflation risk exist.

Speaker: Vittoria Zoli, Analyst - Emerging Markets, Moody's Investors Service

Host: Scott Phillips, Associate Managing Director - Emerging Markets, Moody's Investors Service

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Emerging market central banks reassess pace of monetary easing as US Fed holds rates for longer

podcasts@moodys.com (Vittoria Zoli, Scott Phillips) — Mon, 30 Oct 2023 21:56:55 +0000

Continued high US interest rates, strong US dollar and possible rise in commodity prices mean EM central banks are likely to recalibrate the pace, if not the depth, of their interest rate cuts.

Speaker: Vittoria Zoli, Analyst - Emerging Markets, Moody's Investors Service

Host: Scott Phillips, Associate Managing Director - Emerging Markets, Moody's Investors Service

Related research:

Federal Reserve on hold for longer implies slower pivot to policy easing for some EMs

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A focus on emerging markets as bond yields and oil prices oscillate, plus a deep dive on Egypt

podcasts@moodys.com (Vittoria Zoli, Elisa Parisi-Capone, Scott Phillips) — Mon, 16 Oct 2023 19:09:26 +0000

This podcast episode examines the effect of interest-rate and oil-price volatility on EM, inflation in Asia and Central-Eastern Europe, monetary policy in LatAm and Egypt’s weakening credit quality.

Speakers: Vittoria Zoli, Analyst - Emerging Markets, Moody's Investors Service and Elisa Parisi-Capone, Vice President - Senior Analyst - Sovereigns, Moody's Investors Service

Host: Scott Phillips, Associate Managing Director - Emerging Markets, Moody's Investors Service

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How recent US, UK, euro area monetary policy decisions, US dollar strength affect emerging markets

podcasts@moodys.com (Vittoria Zoli, Steffen Dyck, Scott Phillips) — Mon, 2 Oct 2023 15:28:50 +0000

Moody’s strategists discuss recent central bank decisions, EM financial conditions, US dollar strength and EM currency weakness, Poland’s election and India’s inclusion in an EM government bond index.

Speakers: Vittoria Zoli, Analyst -- Emerging Markets, Moody's Investors Service and Steffen Dyck, Senior Vice President -- Sovereigns, Moody's Investors Service

Host: Scott Phillips, Associate Managing Director -- Emerging Markets, Moody's Investors Service

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Disinflation continues in EMs; Mexico’s industrial production rises; Gabon’s outlook turns negative

podcasts@moodys.com (Vittoria Zoli, Mickaël Gondrand, Scott Phillips) — Mon, 18 Sep 2023 19:20:04 +0000

Moody’s analysts discuss the country-specific reasons inflation is slowing in emerging markets; why Mexico’s industrial production is increasing; and how Gabon’s coup factored into its outlook change.

Speakers: Vittoria Zoli, Analyst – Emerging Markets, Moody's Investors Service and Mickaël Gondrand, Analyst – Sovereigns, Moody’s Investors Service

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Investors Service

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Stress in China’s property sector has potential knock-on effects across multiple sectors

podcasts@moodys.com (Scott Phillips) — Fri, 8 Sep 2023 02:02:41 +0000

In this episode, Moody’s analysts discuss the reasons for the current property-sector stress and the potential effects for developers, banks that finance them, local authorities and the economy.

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Investors Service

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More emerging market sovereigns pursue debt-for-nature swaps to reduce debt burdens

podcasts@moodys.com (Thorsten Nestmann, Christopher Bredholt, Scott Phillips) — Wed, 23 Aug 2023 14:52:46 +0000

Moody’s analysts discuss the growing use – and credit effect – of these transactions amid some sovereigns’ debt sustainability concerns and a need to invest in climate initiatives.

Speakers: Thorsten Nestmann, Senior Vice President - Group Credit Officer, Sovereigns and Christopher Bredholt, Vice President - Senior Credit Officer, Public Project and Infrastructure Finance, Moody's Investors Service

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Investors Service

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Emerging Markets insights and view ahead with Kojo Amoo-Gottfried

podcasts@moodys.com (Kojo Amoo-Gottfried, Scott Phillips, Vittoria Zoli) — Thu, 10 Aug 2023 09:47:58 +0000

BSI Fund Chief Investment Officer Kojo Amoo-Gottfried joins Emerging Markets Decoded to discuss emerging markets topics including the macro perspective and investor sentiment toward the asset class.

Speaker: Kojo Amoo-Gottfried, Chief Investment Officer, BSI Fund

Hosts: Scott Phillips, AMD – Emerging Markets, Moody’s Investor’s Service; Vittoria Zoli, Analyst – Emerging Markets, Moody’s Investors Service

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China’s soft economic recovery raises contingent liability risks from LGFVs

podcasts@moodys.com (Lillian Li, Jessie Tung, Vittoria Zoli) — Wed, 26 Jul 2023 19:52:23 +0000

Moody’s analysts discuss the economic and credit outlook for China, including the role of local government financing vehicles (LGFVs) and their debt burdens, and the latest on the property sector.

Speakers: Lillian Li, VP-Senior Credit Officer, Moody’s Investors Service; Jessie Tung, VP-Senior Credit Officer, Moody’s Investors Service

Host: Vittoria Zoli, Analyst – Emerging Markets, Moody’s Investors Service

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South Africa power cuts dim economic outlook

podcasts@moodys.com (Aurelien Mali, Neil Griffiths-Lambeth, Vittoria Zoli) — Thu, 13 Jul 2023 22:29:20 +0000

Moody’s analysts discuss the credit effects of South Africa’s energy crisis, including macro and social implications, as well as the government’s plans to address the crisis.

Speakers: Aurelien Mali, Vice President – Senior Credit Officer, Moody’s Investors Service; Neil Griffiths-Lambeth, Associate Managing Director, Moody’s Investors Service

Host: Vittoria Zoli, Analyst – Emerging Markets, Moody’s Investors Service

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Debt sustainability is at risk for frontier market sovereigns

podcasts@moodys.com (Lucie Villa, Scott Phillips) — Thu, 22 Jun 2023 07:38:46 +0000

Moody’s analysts discuss updates to long-term sovereign debt forecasts, accounting for recent market conditions, including higher inflation and interest rates.

Speaker: Lucie Villa, Vice President – Senior Credit Officer, Sovereign Risk Group, Moody’s Investors Service

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Investors Service

Related Research:

Frontier markets' debt sustainability at stake; political economy drives debt paths for some

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Moody’s Global Emerging Markets Summit 2023: High hopes, higher risks?

podcasts@moodys.com (Lee C. Buchheit, David Lubin, Scott Phillips) — Wed, 7 Jun 2023 08:27:23 +0000

Special guests Lee C. Buchheit and David Lubin share their insights on emerging market sovereign debt crises, the US dollar’s future as a global reserve currency, China’s evolving economy and more.

Speakers: Lee C. Buchheit, Professor, University of Edinburgh; David Lubin, Head of EM Economics, Citi, Associate Fellow at Chatham House

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Investors Service

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Is India the next emerging market powerhouse?

podcasts@moodys.com (Kaustubh Chaubal, Scott Phillips) — Wed, 24 May 2023 07:57:19 +0000

Moody’s analysts discuss India’s growing manufacturing and infrastructure sectors, favorable demographics and potential to achieve significant scale across multiple sectors in the next decade.

Speaker: Kaustubh Chaubal, Senior Vice President – Corporate Finance, Moody’s Investors Service

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Investors Service

Related research:

Growing industrial sector will drive economy, but may face investment hurdles

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Emerging markets with nature-dependent sectors face natural capital depletion risks

podcasts@moodys.com (kelvin Dalrymple, Lucia lopez, Rahul Ghosh) — Wed, 17 May 2023 09:19:35 +0000

Moody’s analysts explore credit risks related to natural capital and biodiversity loss, why emerging markets are more at risk than advanced economies and which sectors are most exposed.

Speakers: Lucia Lopez, VP – Senior Credit Officer, Moody’s Investors Service; Rahul Ghosh, MD – Sustainable Finance, Moody’s Investors Service

Host: Kelvin Dalrymple, VP – Senior Credit Officer, Moody’s Investors Service

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Cost-of-living crisis weakens social contracts across the globe, adding to global economic risks

podcasts@moodys.com (Elisa Parisi-Capone, David Rogovic, Shirin Mohammadi) — Wed, 3 May 2023 08:00:00 +0000

Moody’s analysts explore credit risks related to the social contract, and how a weakening in the contract is often associated with credit deterioration in the countries where it takes place.

Speakers: Elisa Parisi-Capone, VP – Senior Analyst, Moody’s Investors Service; David Rogovic, VP – Senior Credit Officer, Moody’s Investors Service

Host: Shirin Mohammadi, VP – Senior Research Writer, Moody’s Investors Service

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Emerging market corporate credit quality better placed to handle next downturn

podcasts@moodys.com (Kelvin Dalrymple, Vittoria Zoli, Scott Phillips) — Wed, 19 Apr 2023 02:00:00 +0000

Moody's analysts explore two downside scenarios to frame the likely impact of a US recession on EM corporates, combining lessons from past downturns with the many changes to the credit landscape in the years since.

Speakers: Kelvin Dalrymple, VP – Senior Credit Officer, Moody's Investors Service; Vittoria Zoli, Analyst, Moody's Investors Service

Host: Scott Phillips, AMD – Global Emerging Markets, Moody’s Investors Service

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World Bank-IMF Spring Meetings will cover range of emerging market credit topics

podcasts@moodys.com (Marie Diron, Scott Philiips) — Wed, 5 Apr 2023 08:46:22 +0000

Moody’s analysts explore the key themes and policy issues likely to be at the center of the upcoming World Bank and IMF Spring Meetings, including banking turmoil, tightening credit, ESG and more.

Speaker: Marie Diron, Managing Director – Sovereign Risk, Moody’s Investors Service

Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Investors Service

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Mark Zandi on Fed rate hike, banking stress, recession risks and implications for emerging markets

podcasts@moodys.com (Mark Zandi, Shirin Mohammadi) — Thu, 23 Mar 2023 19:59:30 +0000

The chief economist of Moody’s Analytics joins host Shirin Mohammadi to discuss the US Federal Reserve’s recent rate decision and response to banking stress, recession risks and more.

Speaker: Mark Zandi, Chief Economist, Moody’s Analytics

Host: Shirin Mohammadi, VP – Senior Research Writer, Moody’s Investors Service

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US bank failures have ripple effects worldwide

Fri, 17 Mar 2023 20:42:37 +0000

Moody’s analysts discuss recent developments in the US and European banking systems, the implications for monetary policy and potential spillovers to emerging markets across the globe.

Speakers: Donald Robertson, AMD – Financial Institutions, Moody’s Investors Service; Nick Hill, MD – Financial Institutions, Moody’s Investors Service; Eugene Tarzimanov, VP – Senior Credit Officer, Moody’s Investors Service; Scott Phillips, AMD – Global Emerging Markets, Moody’s Investors Service

Hosts: Shirin Mohammadi, VP – Senior Research Writer, Moody’s Investors Service; Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service

For related research, visit the Global Banking System Outlook topic page.

As financial pressures mount in a time of higher rates and slowing growth, Moody’s will continue to share our analysis of evolving trends and repercussions for banks around the world.

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Islamic finance set to continue its steady expansion in 2023

podcasts@moodys.com (Scott Phillips, Sohail Ali, Nitish Bhojnagarwala) — Wed, 8 Mar 2023 09:43:14 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Nitish Bhojnagarwala of the Financial Institutions team and special guest Sohail Ali of DLA Piper join host Scott Phillips to discuss the outlook for Islamic finance across emerging markets. Plus, they dive into the intersection of ESG and Islamic finance, and the risks associated with “green” sukuk issuance.

Related research:

Islamic finance sector will remain resilient despite tight global financial conditions

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Will Nigeria’s presidential elections affect credit conditions for banks and the sovereign?

podcasts@moodys.com (Ighosime Oyofo, Mik Kabeya, Lucie Villa, Scott Phillips) — Mon, 6 Mar 2023 09:52:42 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Ighosime Oyofo and Mik Kabeya of the Financial Institutions team and Lucie Villa of the Sovereign team join host Scott Phillips to discuss the credit implications of Nigeria’s presidential elections, with a focus on the banking system and the sovereign.

Related research

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Tight financing conditions will continue to challenge frontier markets' credit strength

podcasts@moodys.com (Shirin Mohammadi, Scott Phillips) — Wed, 22 Feb 2023 11:37:47 +0000

In this episode of Moody's Talks – Emerging Markets Decoded, Scott Phillips of the Global Emerging Markets team joins host Shirin Mohammadi to discuss a recent turn of events for emerging market credit conditions, including some easing in financial conditions, with inflation, yields and spreads all lower than at the end of 2022, despite continued volatility. They explore what recent events mean for debt issuers in emerging and frontier economies and reveal which sovereigns are still at risk of default.

Related Research:

Tight financing conditions will continue challenging frontier markets' credit strength

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Political unrest adds to credit pressures across Latin America

podcasts@moodys.com (Jaime Reusch, Ariane Ortiz-Bollin, Valeria Azconegui) — Wed, 8 Feb 2023 09:48:27 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Jaime Reusche of the Sovereign team joins host Ariane Ortiz-Bollin to discuss the credit implications of political unrest in Peru, how it compares to recent events in Brazil and credit distress in Argentina. Plus, Valeria Azconegui of Moody’s Local shares insights from the ground.

Related research:

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Despite mixed outlook, Middle East houses one of 2023’s few bright spots

podcasts@moodys.com (Christian Fang, Alex Perjessy, Shirin Mohammadi) — Wed, 25 Jan 2023 11:00:22 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Christian Fang and Alex Perjessy of the Sovereign team join host Shirin Mohammadi to discuss the outlook for sovereigns across the Middle East and North Africa. Plus, they explore how recent developments in Iran could affect the rest of the region.

Related research:

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Will China’s zero-covid policy reversal provide a boon to emerging markets in 2023?

podcasts@moodys.com (Gene Fang, Scott Phillips) — Wed, 11 Jan 2023 09:17:21 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Gene Fang of the Sovereign team joins host Scott Phillips to discuss the outlook for credit conditions in China as it lifts Covid restrictions and reopens its economy, with a special focus on regional and local governments, the property sector, as well as potential implications for other emerging markets.

Related research:

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Lower growth and higher rates will weigh on African issuers

podcasts@moodys.com (Scott Phillips, David Rogovic, Mik Kabeya, Matt Pirnie) — Wed, 14 Dec 2022 10:07:19 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, David Rogovic of the Sovereign team and Mik Kabeya of the Financial Institutions team join host Scott Phillips to discuss credit dynamics in Africa amid the US-Africa Leaders Summit in Washington DC. Plus, Matt Pirnie, Head of Ratings at GCR Ratings joins as a special guest to discuss the biggest risks and potential bright spots facing corporate issuers in Sub-Saharan Africa.

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Sustained growth slowdown in China would spill over to Asia-Pacific region and beyond

podcasts@moodys.com (Shirin Mohammadi, Deborah Tan) — Wed, 30 Nov 2022 09:28:11 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Deborah Tan of the Credit Strategy & Research team joins host Shirin Mohammadi to discuss what a sustained economic growth slowdown in China implies for the rest of the world, particularly the Asia-Pacific region and lower-income countries that rely on Chinese investment flows.

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Negative global credit conditions will weigh on weaker emerging market debt issuers in 2023

podcasts@moodys.com (Ariane Ortiz-Bollin, Scott Phillips) — Wed, 16 Nov 2022 09:07:20 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Ariane Ortiz-Bollin of the Global Emerging Markets team joins host Scott Phillips to discuss the 2023 outlook for emerging market credit conditions, with a focus on governments, companies and banks.

Related research:

2023 Outlook - Negative credit conditions leave weaker debt issuers exposed

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Emerging markets with stronger governance, diversified economies best placed to achieve a socially “just transition”

podcasts@moodys.com (Shirin Mohammadi, Ana Rayes) — Wed, 9 Nov 2022 09:56:21 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Ana Rayes of the ESG team joins host Shirin Mohammadi to discuss the potential social ramifications of climate action, and explore the relative readiness of emerging market sovereigns for a socially just carbon transition.

Related research:

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Brazil’s close election outcome will limit Lula’s ability to implement material policy changes

podcasts@moodys.com (Ariane Ortiz-Bollin, Samar Maziad) — Fri, 4 Nov 2022 14:29:06 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Samar Maziad of the Sovereign team joins host Ariane Ortiz-Bollin to discuss the credit implications of Brazil’s recent presidential elections for the sovereign, banks and companies.

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Emerging market companies face high refinancing risk as tight financial conditions persist

podcasts@moodys.com (Thaddeus Best, Scott Phillips) — Wed, 26 Oct 2022 11:44:21 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Thaddeus Best of the Emerging Markets team joins host Scott Phillips to discuss how tight financial conditions and capital outflows from emerging markets are affecting lower-rated issuers’ ability to refinance maturing international bonds.

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Lower-rated emerging markets face social, fiscal risks as credit cycle turns

podcasts@moodys.com (Christian Fang, Shirin Mohammadi) — Wed, 19 Oct 2022 08:58:43 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Christian Fang of the Sovereign team joins host Shirin Mohammadi to discuss the fiscal and social implications of a sustained period of high inflation and interest rates globally for non-investment-grade emerging market sovereigns.

Related content on Moodys.com (some content only available to registered users or subscribers):

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Stagflation risks rise for European emerging markets

podcasts@moodys.com (Olivier Chemla, Petter Bryman, Ariane Ortiz-Bollin) — Wed, 28 Sep 2022 09:14:51 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Olivier Chemla and Petter Bryman of the Sovereign team join host Ariane Ortiz-Bollin to discuss which Central and Eastern European countries are most at risk of stagflation and how such a scenario would impact sovereign credit profiles.

Related content on Moodys.com (some content only available to registered users or subscribers):

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G20 emerging market growth outlook dims; Argentina, Turkiye grapple with high inflation, low monetary policy credibility

Wed, 14 Sep 2022 08:44:00 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Madhavi Bokil of the Credit Strategy and Research team joins host Shirin Mohammadi to discuss the latest update to Moody’s global macroeconomic outlook, with a focus on G20 emerging markets. Plus, Kathrin Muehlbronner and Gabriel Torres of the Sovereign team do a deep dive into Turkiye and Argentina – two of the largest emerging markets facing extraordinarily high levels of inflation.

Related content on Moodys.com (some content only available to registered users or subscribers):

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Most emerging markets will avert debt crisis, but frontier markets exposed to turning credit cycle

podcasts@moodys.com (Ariane Ortiz-Bollin, Anushka Shah) — Wed, 31 Aug 2022 09:44:27 +0000

In this episode of Moody’s Talks - Emerging Markets Decoded, Thaddeus Best of the Global Emerging Markets team and Anushka Shah of the Sovereign team join host Ariane Ortiz-Bollin to discuss the resilience of most emerging markets to tightening financial conditions, as well as the implications for reform prospects in lower-income countries.

Related content on Moodys.com (some content only available to registered users or subscribers):

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Heatwaves undermine renewable energy production, utilities in Asia-Pacific and Latin America

podcasts@moodys.com (Thaddeus Best, Ada Li, Roxana Munoz) — Wed, 17 Aug 2022 08:37:15 +0000

In this episode of Emerging Markets Decoded, Ada Li and Roxana Munoz of the Infrastructure and Project Finance team join host Thaddeus Best to discuss how climate change is undermining green and conventional power generation.

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Costa Rica cyberattacks highlight key risk area as emerging markets move toward digitization

podcasts@moodys.com (Shirin Mohammadi, Leroy Terrelonge, Gabriel Torres) — Wed, 3 Aug 2022 13:14:21 +0000

In this episode of Emerging Markets Decoded, Leroy Terrelonge of the Cyber Risk team and Gabriel Torres of the Sovereign team join host Shirin Mohammadi to discuss rising cyber risks for emerging markets and recent attacks on Costa Rica’s government.

Related content on Moodys.com (some content only available to registered users or subscribers):

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Mexico and Pemex downgraded on lower economic growth prospects and increasing fiscal rigidities

podcasts@moodys.com (Tania Hall, Nymia Almeida, Renzo Merino) — Wed, 20 Jul 2022 14:05:58 +0000

In this episode of Emerging Markets Decoded, Renzo Merino of the Sovereign team and Nymia Almeida of the Corporates team join host Ariane Ortiz-Bollin to discuss the recent rating downgrades of the Mexican sovereign and state-owned oil company.

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China’s zero-covid policy and property sector challenges weigh on growth, with global spillovers

podcasts@moodys.com (Martin Petch, Franco Leung, Thaddeus Best) — Wed, 6 Jul 2022 14:16:49 +0000

In this episode of Emerging Markets Decoded, Martin Petch of the Sovereign team and Franco Leung of the Corporates team join host Thaddeus Best to discuss the implications of China’s property sector stress and economic slowdown for global growth.

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Policy shifts loom as Colombia’s presidential election heads to a run-off

podcasts@moodys.com (Ariane Ortiz-Bollin, Renzo Merino, Nymia Almeida) — Wed, 15 Jun 2022 13:39:44 +0000

Analysts Renzo Merino and Nymia Almeida join host Ariane Ortiz-Bollin to discuss the policy proposals of the candidates vying to be Colombia’s next president and how rising social risks may lead to policy changes with important credit implications.

Related content on Moodys.com (some content only available to registered users or subscribers):

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Gloomy outlook for emerging market credit conditions, with some bright spots

podcasts@moodys.com (Ariane Ortiz-Bollin, Thaddeus Best, Rachel Chua) — Wed, 1 Jun 2022 08:00:00 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Ariane Ortiz-Bollin of the Global Emerging Markets team joins host Thaddeus Best to discuss key takeaways from Moody’s recent Global Emerging Markets Summit. Plus, Rachel Chua of the Corporates team reveals which emerging market companies are most exposed to spillovers from the Russia-Ukraine military conflict, and which stand to benefit.

Related content on Moodys.com (some content only available to registered users or subscribers):

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Africa, Middle East at heightened risk of social unrest; Turkey’s inflation soars

podcasts@moodys.com (Aurelien Mali, Kathrin Muehlbronner, Shirin Mohammadi) — Thu, 12 May 2022 09:01:17 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Aurelien Mali and Kathrin Muehlbronner of the Sovereign team join host Shirin Mohammadi to discuss the sociopolitical ramifications of the Russia-Ukraine crisis for the Middle East and Africa by drawing lessons from a similar global food and energy price shock in 2008. Plus, they discuss how the conflict is exacerbating an already precarious situation in Turkey.

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Frontier markets most exposed to heightened risk aversion; CIS credit quality at risk

podcasts@moodys.com (Elisa Parisi-Capone, Thaddeus Best, Christian de Guzman) — Wed, 27 Apr 2022 15:39:02 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Christian de Guzman and Elisa Parisi-Capone from the Sovereign team join host Thaddeus Best to discuss how Russia’s military conflict with Ukraine is affecting Commonwealth of Independent States (CIS) sovereigns, as well as what stress tests on borrowing costs, exchange rates and capital flows tell us about the sovereigns most exposed to heightened risk aversion.

Related content on Moodys.com (some content only available to registered users or subscribers):

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Higher energy prices will delay carbon transition; Mexico’s energy policy will raise costs

podcasts@moodys.com (Ariane Ortiz-Bollin, Adrian Garza, Steve Wood) — Wed, 13 Apr 2022 07:30:00 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Steve Wood from the Corporates team joins host Ariane Ortiz-Bollin to discuss how the Russia-Ukraine conflict is affecting the global oil and gas sector, and what this means for carbon transition. Plus, Adrian Garza from the Project and Infrastructure Finance team discusses how a major policy shift in Mexico’s energy sector will delay the move to cleaner energy, weighing on the sovereign, companies and banks.

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Russia-Ukraine crisis exacerbates food price inflation; financial conditions tighten for emerging markets

podcasts@moodys.com (Shirin Mohammadi, Thaddeus Best, Mickael Gondrand) — Wed, 30 Mar 2022 07:30:00 +0000

In this episode of Emerging Markets Decoded, Mickael Gondrand of the Sovereign team joins host Shirin Mohammadi to discuss the credit implications of rising food prices for emerging and frontier markets. Plus, Thaddeus Best of the Global Emerging Markets team discusses the reasons why emerging markets are more likely to be able to withstand tightening global financial conditions than in the past.

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CBDCs could foster financial inclusion, growth; El Salvador Bitcoin bond entails high risks

podcasts@moodys.com (Olivier Chemla, Jaime Reusche, Thaddeus Best) — Wed, 16 Mar 2022 14:22:58 +0000

In this episode of Emerging Markets Decoded, Olivier Chemla of the Sovereign team joins host Thaddeus Best to discuss the potential credit implications of central bank digital currencies. Plus, Jaime Reusche of the Sovereign team discusses the risks associated with El Salvador's adoption of Bitcoin as legal tender, and its upcoming Bitcoin bond issuance.

Central bank digital currencies offer sovereigns opportunity to improve policy effectiveness and economic performance

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Russia-Ukraine crisis increases global macroeconomic risks; most economies sustain less pandemic scarring

podcasts@moodys.com (Madhavi Bokil, David Rogovic, Ariane Ortiz-Bollin) — Thu, 3 Mar 2022 22:41:35 +0000

In this episode of Emerging Markets Decoded, Madhavi Bokil of the Credit Strategy team joins host Ariane Ortiz-Bollin to discuss new risks to the global macroeconomic outlook from the Russia-Ukraine conflict. Plus, David Rogovic of the Sovereign team discusses the credit implications of less economic scarring from the pandemic.

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Escalating Russia-Ukraine tensions will weigh on sovereigns, banks, with spillovers to Europe

podcasts@moodys.com (Thaddeus Best, Evan Wohlmann, Petter Bryman, Olga Ulyanova) — Wed, 16 Feb 2022 14:43:43 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Evan Wohlmann and Petter Bryman of the Sovereign team, and Olga Ulyanova of the Financial Institutions team join host Thaddeus Best to discuss the credit implications of rising tensions between Western countries and Russia over the latter’s military buildup on its border with Ukraine.

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Foreign direct investment decline lowers emerging markets’ growth potential

podcasts@moodys.com (Ariane Ortiz-Bollin, Thaddeus Best, Alexander Perjessy) — Wed, 2 Feb 2022 14:05:36 +0000

In this episode of Emerging Markets Decoded, Thaddeus Best from the Credit Strategy and Research team and Alexander Perjessy of the Sovereign team join host Ariane Ortiz-Bollin to discuss the credit implications of the decline in foreign direct investment flows across emerging markets. Plus, they discuss how growing global commitments to carbon transition will increase credit risks for hydrocarbon-reliant sovereigns.

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Emerging markets’ climate financing falls short; deforestation in Brazil weighs on businesses

podcasts@moodys.com (Thaddeus Best, Ruosha Li, Barbara Mattos, Ana Rayes) — Wed, 19 Jan 2022 08:30:00 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Ruosha Li from the Credit Strategy & Research team, Barbara Mattos from the Corporates team and Ana Rayes from the ESG team join host Thaddeus Best to discuss the gap in emerging markets’ climate financing needs and sources, as well as the rising social and environmental risks that deforestation poses to businesses in Brazil.

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China’s economic rebalancing will reduce social risks, but transition will be bumpy

podcasts@moodys.com (Shirin Mohammadi, Lillian Li, Lina Choi) — Thu, 13 Jan 2022 08:30:00 +0000

In this episode of Moody’s Talks – Emerging Markets Decoded, Lillian Li from the Credit Strategy & Research team and Lina Choi from the Corporates team join host Shirin Mohammadi to discuss how China’s common prosperity framework and new antitrust regulations will shape the credit outlook for the sovereign and businesses.

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African sovereigns and banks will face significant challenges in 2022

podcasts@moodys.com (Thaddeus Best, Aurelien Mali, Jorge Rodriguez-Valez) — Wed, 8 Dec 2021 13:16:30 +0000

Aurelien Mali of the Sovereign team and Jorge Rodriguez-Valez of the Credit Strategy team discuss the outlook for Sub-Saharan African sovereigns and African banks as they grapple with the pandemic’s lasting effect on the region’s economies.

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Emerging markets will face multispeed recovery, even as credit conditions stabilize

podcasts@moodys.com (Ariane Ortiz-Bollin, Atsi Sheth) — Wed, 17 Nov 2021 03:45:00 +0000

Atsi Sheth of the Credit Strategy & Research team discusses the outlook for global emerging markets, noting that while credit conditions will stabilize in 2022, high leverage, inflation and deteriorating financial conditions will increase risks for weaker countries and sectors.

Related content on Moodys.com (some content only available to registered users or subscribers):

Emerging Markets – Global 2022 Outlook – Multispeed recovery with stark differences across regions and sectors

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Rising commodity prices, political risk and inflation reshape LatAm credit conditions

podcasts@moodys.com (Barbara Mattos, Farooq Khan, Ariane Ortiz-Bollin) — Wed, 27 Oct 2021 07:30:00 +0000

Barbara Mattos of the Corporate Finance team and Farooq Khan of the Financial Institutions team discuss the mixed credit implications of rising commodity prices, rising inflation and political risk for companies and banks across Latin America.

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China Evergrande’s financial stress raises challenges for China’s property market and economy

podcasts@moodys.com (Thaddeus Best, Gary Lau, Michael Taylor) — Wed, 13 Oct 2021 16:24:05 +0000

Gary Lau of the Corporate Finance team and Michael Taylor of the Credit Strategy and Research team discuss China Evergrande’s financial troubles and the credit implications for China’s property market, banks, government and potential spillovers to the global economy.

Inside this episode:

Gary Lau on the impact of the Evergrande situation on the broader property market in China (begins at 3:42)
Michael Taylor discusses whether there could be a risk of deterioration of sovereign credit quality (begins at 7:17)

Property – China: China Property Focus: Refinancing risk builds up as tight credit conditions continue

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Social safety nets support governments; sub-sovereign governments face high social risks

podcasts@moodys.com (Samar Maziad, Jennifer Wong, Ariane Ortiz-Bollin) — Wed, 29 Sep 2021 07:30:00 +0000

Samar Maziad of the Sovereign team discusses the cost effectiveness and advantages of social safety nets when responding to shocks. Plus, Jennifer Wong of the Sub-Sovereign team explains why emerging market regional and local governments face particularly high social risks.

Inside this episode:

Samar Maziad of the Sovereign team discusses the cost effectiveness and advantages of social safety nets when responding to shocks. (begins at 1:20)
Jennifer Wong of the Sub-Sovereign team explains why emerging market regional and local governments face particularly high social risks. (begins at 7:27)

Related content:

Sovereigns – Emerging Markets: Social safety nets support credit quality by improving response to shocks, reducing social tensions - Well-targeted safety nets improve governments' response to shocks, mitigating the severity of economic disruption. The availability and effectiveness of these programs vary widely.
Regional and local governments: Emerging markets Infrastructure gap, inequality, weak labor markets underpin exposure to social risks - Given the scale of these challenges and the limited fiscal flexibility of emerging market RLGs, social considerations will continue to weigh on credit profiles for many years.
Sovereigns – Global Explanatory Comment: New scores depict varied and largely credit-negative impact of ESG factors - Considering exposure to environmental and social risk, governance strength, and financial and institutional buffers, ESG factors commonly have a negative impact on sovereign ratings.

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Inflation risks are high for emerging markets; Islamic finance issuance steadies

Wed, 15 Sep 2021 02:45:00 +0000

Madhavi Bokil of the Credit Strategy & Research team discusses inflation and financial stability risks in emerging markets. Plus, Nitish Bhojnagarwala and Ashraf Madani of the Financial Institutions team talk about the outlook for Islamic finance.

Inside this episode:

Madhavi Bokil of the Credit Strategy & Research team discusses inflation and financial stability risks in emerging markets. (begins at 1:36 mins)
Nitish Bhojnagarwala and Ashraf Madani of the Financial Institutions team talk about the outlook for Islamic finance. (begins at 8:52 mins)

Related content:

Global Macro Outlook 2021-22 (August 2021 Update): Global growth rebound solidifies while risks broaden away from pandemic - We expect a robust rebound in economic growth despite risks from the delta variant. Inflation has surprised to the upside, but appears close to peak.
Cross-Sector – Global: Characteristics of asset-based sukuk - This report provides an overview of the key characteristics of “asset-based” sukuk.
Cross-sector - Islamic finance: Sukuk issuance will steady after five years of strong growth - Despite a solid first six months of the year, sukuk activity for 2021 will consolidate following 2020's record issuance.

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China’s path to net-zero emissions will become increasingly difficult

Wed, 1 Sep 2021 02:45:00 +0000

James Leaton of the ESG team discusses carbon transition risks for emerging markets. Plus, Nishad Majmudar of the Sovereign and Credit Strategy teams and Jack Yuan of the Sub-Sovereign team discuss China’s bold plans to reach carbon neutrality by 2060.

Related content:

ESG – Global: Prevalence of ESG factors in public-sector rating actions rose in 2020 - We reviewed nearly 5,600 credit rating action announcements that we published in 2020, finding that the frequency of ESG considerations increased significantly from the prior year.
Environmental Risks – China: Path to net-zero emissions points to bumpy transition for fossil fuel-driven sectors - Global momentum and domestic initiatives behind reducing carbon dioxide emissions to net zero by midcentury will have credit implications for Chinese entities across sectors.
Regional & Local Governments – China: Carbon transition will be uneven, with credit risks for provinces in northern - Provinces with large legacy carbon-emitting industries or exposure to coal mining and weaker fiscal and state-owned enterprise profiles will have most difficulty bearing cost of transition.

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Emerging market banks’ asset risks rising; Mexican banks benefit from rising rates

podcasts@moodys.com (Thaddeus Best, Mik Kabeya, Alka Anbarusu, Rodrigo Marimon) — Wed, 18 Aug 2021 07:30:00 +0000

Inside this episode

Alka Anbarasu and Mik Kabeya of the Financial Institutions team discuss the mostly negative outlook for emerging market banking systems, while Rodrigo Marimon, also of the Financial Institutions team, explains how sticky deposit bases in Mexico will enable banks there to benefit from monetary tightening.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Banks – Mexico Stabilizing interest rates and economic recovery will support profit A combination of factors bodes well for profit, including stabilizing interest rates and a recovering economy, along with loan growth, cheap funding, and declining costs and provisions.
Global Emerging Market Banks Chartbook This report outlines the key trends and ratings drivers for emerging market banks.
Banks – Emerging Markets Asset risk trends will diverge as new waves of virus blight recovery of some markets Nigeria, Turkey and Colombia will be hit hardest; China, India and Chile will be most resilient

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Non-investment-grade sovereigns face delayed recovery; Asia-Pacific lags in vaccinations

podcasts@moodys.com (Ariane Ortiz-Bollin, Anushka Shah, Marie Diron) — Wed, 4 Aug 2021 07:30:00 +0000

Inside this episode

Marie Diron of the Sovereign group discusses the outlook for non-investment-grade sovereign ratings and how they fared during the pandemic. Plus, Anushka Shah, also of the Sovereign group, examines the credit implications of lagging vaccination rates in the Asia-Pacific region.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Non-Investment-Grade Sovereigns: Global Weak and delayed economic recovery will make it more challenging to restore fiscal and liquidity positions, 22 June 2021 The report highlights key rating trends for non-investment-grade sovereigns across the globe.
Sovereigns – Asia Pacific: Lagging vaccinations pose risks to domestic demand; exports provide buffer for some, 23 June 2021 Infections have recently spiked in a number of economies where vaccination rates are low, but trade is providing a strong support to output in the more export-oriented economies.

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Credit risks for Sub-Saharan African sovereigns and banks rise; telecom sector a bright spot

Wed, 21 Jul 2021 07:30:00 +0000

Inside this episode

Elisa Parisi-Capone from the Sovereigns team and Peter Mushangwe from the Financial Institutions team join host Thaddeus Best to discuss how liquidity risks have risen for Sub-Saharan sovereigns with less-developed domestic capital markets, and the pandemic-induced asset quality deterioration of some of the largest regional banks. Also, Lisa Jaeger discusses one sector in the region experiencing growth: telecom companies.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Telecommunications – Africa African telecoms to benefit from strong growth but face increasing sovereign risks Growth of the telecom sector in Africa will be strong because most markets remain underpenetrated. But deteriorating sovereign environments increase risks.
Banks - Africa Pandemic takes toll on Africa's largest banks but profitability will remain resilient Problem loans have soared at African banks as the pandemic brought widespread economic disruption to the continent.
Sovereigns – Africa Varied availability of domestic funding sources in Africa drives liquidity risks Following a surge in gross borrowing requirements during the pandemic, sovereigns with domestic funding constraints face higher exposure to a potential tightening in financial conditions.

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Corporate liquidity in Latin America is adequate; Brazil faces tough policy choices

podcasts@moodys.com (Erick Rodriguez, Samar Maziad, Ariane Ortiz-Bollin) — Wed, 7 Jul 2021 07:30:00 +0000

Inside this Episode

Erick Rodriguez of the Corporates team discusses how most companies and public finance projects in Latin America managed to maintain adequate liquidity levels despite the depth of their recessions. Meanwhile, Samar Maziad of the Sovereign group dives deeper into Brazil, the region’s largest economy, to answer the most frequently asked investor questions.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Cross-Sector – Argentina: Tight local market conditions keep corporate liquidity risk high in 2021-22 Despite liability management and the completion of some infrastructure spending, Argentine corporate refinancing risk remains high for the $7.9 billion in debt maturing in 2021-22.
Cross-Sector – Brazil: Liability management prevents higher liquidity risk through 2022 Much of the short-term debt that Brazilian companies issued during the pandemic comes due through 2022, modestly increasing overall liquidity risk and making liability management crucial.
Cross-Sector – Chile: Strong commodity prices point to solid performance even as liquidity tightens Liquidity risk increased for Chile's 17 rated non-financial companies, utilities and infrastructure issuers, but most will have enough liquidity to meet their obligations through late 2022.
Cross-Sector – Mexico: Low liquidity risk and post-pandemic growth will benefit most companies Mexican companies will generally have enough cash on hand, free cash flow, and available committed credit facilities to cover their debt, operating expenses and capital spending through 2022.
Cross-Sector – Peru: Corporate liquidity holds as improving economy offers some promise for 2021-22 We have seen little change in the number of rated Peruvian non-financial and infrastructure companies; nine of the 17 companies in our annual study have low or medium liquidity risk today.
Government of Brazil: FAQ on sovereign credit challenges amid slow pace of vaccinations against the coronavirus Recent developments in Brazil (Ba2 stable) remain broadly in line with our baseline scenario. We now expect Brazil’s economy to rebound sharply from last year’s moderate contraction as the spread of the coronavirus slows in the second half of the year.

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Emerging markets poised for a rocky and uneven recovery from pandemic

podcasts@moodys.com (Ariane Ortiz-Bollin, Deborah Tan, Matt Robinson) — Thu, 24 Jun 2021 07:30:00 +0000

Inside this episode

Deborah Tan of the Credit Strategy & Research team explains the effectiveness and risks of quantitative easing in emerging markets, while Matt Robinson of the Sovereign group discusses the uneven economic recovery ahead for emerging markets, common factors affecting lower-rated sovereigns and key metrics and trends to follow in 2022 and beyond.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Macroeconomics – Emerging Markets: Quantitative easing programs are largely positive, but risks vary across economies Programs launched at the height of the pandemic have helped stabilize domestic bond markets, provide market liquidity, ease the impact of capital outflows and lower long-term bond yields.
Emerging Markets – Global 2021 Summit: Recovery uneven across emerging market countries and lagging advanced economies Our virtual summit highlighted the widely divergent recovery we expect across emerging markets, with growth slowing as the pandemic's toll casts a long shadow over the global economy.
Emerging Markets – Global 2021 Summit: ESG risks are greater for emerging markets than advanced, but vary widely Our virtual summit highlighted the heightened ESG risks for emerging markets, with strong governance an important tool to address social and environmental challenges.
Emerging Markets – Global 2021 Summit: Energy transition risks and strategies vary among different oil-producing regions Oil producers in the GCC have made greater carbon-transition inroads than those in Latin America, whose debts and government revenue obligations are preventing greater efforts to evolve.

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Welcome to Emerging Markets Decoded

podcasts@moodys.com (Thaddeus Best, Ariane Ortiz-Bollin) — Tue, 22 Jun 2021 10:33:00 +0000

Welcome to Emerging Markets Decoded! Co-hosted by Ariane Ortiz-Bollin and Thaddeus Best of the Global Emerging Markets team, Emerging Markets Decoded delves into the latest developments impacting the credit environment for emerging market issuers across asset classes. In each episode, Moody’s analysts join Ariane and Thaddeus to explore the ramifications of global macroeconomic and financial market developments, environmental, social and governance risks and other challenges for emerging economies.

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Sovereign wealth fund drawdowns will help meet elevated funding needs across Gulf

podcasts@moodys.com (Thaddeus Best, Rahul Ghosh, Alexander Perjessy) — Wed, 17 Feb 2021 08:45:00 +0000

Inside this episode

Alexander Perjessy and Thaddeus Best of the Sovereign team discuss our forecasts for a protracted recovery of Gulf Cooperation Council economies this year, and the unique availability of these governments to tap into sovereign wealth fund assets to plug their fiscal deficits.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Sovereigns – Gulf Cooperation Council 2021 outlook negative as pandemic curbs fiscal strength, adds to labour challenges The pandemic will dampen oil revenue, extending the deterioration in fiscal strength experienced in 2020, while constraining government spending and slowing the economic recovery.
Sovereign and Supranational — Sovereigns – Gulf Cooperation Council: Saudi Arabia, Oman most exposed to diminishing fiscal uplift from SWFs The coronavirus-driven decline in oil demand and prices has significantly increased gross financing requirements for Gulf Cooperation Council (GCC).

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Climate risks and income inequality are prime ESG risks for EM governments

podcasts@moodys.com (Daniela Re Fraschini, Marie Diron, Rahul Ghosh) — Wed, 3 Feb 2021 13:00:04 +0000

Inside this episode

Marie Diron and Daniela Re Fraschini from the Sovereign team discuss our new environmental, social and governance (ESG) sovereign scores and how sustainability issues contribute to credit risks for emerging market countries.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Sovereigns – Global Explanatory Comment: New scores depict varied and largely credit-negative impact of ESG factors Considering exposure to environmental and social risk, governance strength, and financial and institutional buffers, ESG factors commonly have a negative impact on sovereign ratings.
CROSS-SECTOR RATING METHODOLOGY: General Principles for Assessing Environmental, Social and Governance Risks Methodology This methodology describes our General Principles for Assessing Environmental, Social and Governance Risks.

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Latin America grapples with slow economic recovery, rising social demands

podcasts@moodys.com (Jaime Reusche, Gabriel Torres, Rahul Ghosh) — Wed, 20 Jan 2021 08:45:00 +0000

Inside this episode

Jaime Reusche and Gabriel Torres of the Sovereign team discuss our negative credit outlook on Latin American sovereigns. Although we expect the region to broadly return to GDP growth in 2021, economic revival will take time and pressure on governments to boost spending on social programs will build in the wake of the coronavirus crisis.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Sovereigns – Latin America & Caribbean: 2021 outlook negative as social pressures rise amid subdued recovery from pandemic Subpar medium-term growth prospects and rising social pressures will challenge governments’ ability to restore lost fiscal space, pressuring creditworthiness in the region. As LatAm sovereigns emerge from the pandemic with higher debt and interest burdens, we expect fiscal strength to weaken.

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Credit stress will persist in Sub-Saharan Africa amid bumpy economic recovery

podcasts@moodys.com (Rahul Ghosh, David Rogovic, Aurelien Mali) — Wed, 6 Jan 2021 08:45:00 +0000

Inside this episode

Aurelien Mali and David Rogovic of the Sovereign team discuss the economic and credit implications for Sub-Saharan Africa of weaker global demand and constrained access to financing, as well as how a more diverse creditor base complicates debt negotiations and liquidity relief for countries in the region with lower credit quality.

Related Content

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Sovereign Monitor: Impact of coronavirus on Sub-Saharan Africa, November 2020
Sovereign and Supranational - Sub-Saharan Africa: More dispersed creditor base complicates potential debt restructuring negotiations. The willingness of Chinese creditors to accept losses on principal in particular will have important implications for potential losses incurred by bondholders.

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Social trends take hold as a driver of emerging market credit and financing

podcasts@moodys.com (Rahul Ghosh, Matthew Kuchtyak, Anushka Shah) — Wed, 9 Dec 2020 08:45:00 +0000

Inside this episode

Anushka Shah of the Sovereign team discusses how the coronavirus is exacerbating income inequality across emerging Asia, which will pose challenges to governments with weak social protection systems and low capacity to raise spending. Also, Matthew Kuchtyak of the ESG team looks at the growing importance of social issues for global investors, as reflected in the recent record issuance of sustainable bonds.

Related content:

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Sovereign and Supranational — Asia Pacific: Pandemic shock will spur income inequality, with credit risks for fiscally weak sovereigns The impact of the coronavirus pandemic will exacerbate income inequality across Asia Pacific (APAC). Governments with constrained fiscal capacity have limited scope to address the resulting social and political strains, which could amplify credit risks.
Cross-Sector — Sustainable Finance – Global: Record issuance of sustainable bonds in Q3 2020 as green bond volumes recover Global green, social and sustainability bond issuance totalled a record $127.3 billion in the third quarter of 2020, 30% higher than the previous record achieved during Q2 2020.

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Assessing the future of China’s Belt & Road and ESG risks in emerging markets

podcasts@moodys.com (Nishad Majmudar, Lillian Li, Michael Taylor, Rahul Ghosh) — Wed, 25 Nov 2020 09:56:07 +0000

Inside this episode:

Michael Taylor and Lillian Li of the Credit Strategy & Research team discuss the rising credit strains on many emerging market countries that are part of the Belt & Road Initiative and the direction of the plan post-pandemic. Plus, analyst Nishad Majmudar talks about our analysis of ESG-related credit considerations in emerging market rating actions across sectors.

Related content:

Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.
Post-pandemic credit stress points to leaner, greener future for Belt and Road The coronavirus crisis and global economic downturn have exacerbated underlying credit risks that have built up in recent years across many countries that participate in China’s Belt and Road Initiative.
ESG risks are prevalent in emerging markets, especially in the public sector Environmental, social and governance risks are often higher in emerging markets than in developed markets and debt issuers' capacity to address these risks is often weaker.

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Credit conditions will be mixed across emerging markets amid uneven COVID-19 recovery

Mon, 16 Nov 2020 03:50:00 +0000

Inside this episode:

Analysts Sarah Carlson, Eugene Tarzimanov and Carolina Chimenti discuss the 2021 credit outlook for sovereigns, banks and companies across emerging market countries. The wide-ranging effects of the coronavirus will continue to be a dominant credit theme, along with still-weak tourism prospects, low oil prices and the rollback of forbearance and fiscal support in a number of countries.

Related content:

Tentative recovery for global emerging markets in 2021. While we expect a bounce in headline GDP growth, emerging market credit conditions will remain fragile and vulnerable to setbacks. Several important factors, including the ability to restore revenue and earnings and adapt to emerging opportunities and threats, will shape performance across regions, sectors and asset classes.
Moody's Emerging Markets Hub Bringing clarity to ever-shifting credit dynamics across emerging economies.

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EM government revenue is unlikely to return to pre-pandemic levels in 2021

podcasts@moodys.com (Lucie Villa, Rahul Ghosh, William Foster) — Wed, 28 Oct 2020 09:45:00 +0000

Inside this episode:

Lucie Villa of the Sovereign team explains how the path to fiscal repair for many emerging market economies will likely be long and bumpy as revenue generation remains a struggle.
Plus, William Foster, also of the Sovereign team, discusses whether India’s new fiscal stimulus push will be sufficient to jumpstart the country’s economy.

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China ramps up infrastructure spending to galvanize economic growth

podcasts@moodys.com (Rahul Ghosh, Celina Vansetti-Hutchins, Ivy Poon) — Wed, 14 Oct 2020 10:21:38 +0000

Original publish date: October 14, 2020

Inside this episode:

Ivy Poon of the Infrastructure Finance team discusses how fiscal support will help offset the rise in leverage for infrastructure issuers resulting from increased capital spending on transportation, renewable energy and other projects.
Celina Vansetti-Hutchins of the Banking team explains what the rapid drop in Brazilian interest rates this year means for credit conditions for the country’s banks.

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Government stress weighs on African banks; Lebanon’s economic conditions deteriorate

podcasts@moodys.com (Rahul Ghosh, Constantinos Kypreos, Elisa Parisi-Capone) — Wed, 30 Sep 2020 11:37:43 +0000

Original publish date: September 30, 2020

Inside this episode:

Constantinos Kypreos of the Banking team talks about the mounting credit strains on African banks, a reflection of the weakening financial strength of their home countries.
Elisa Parisi-Capone of the Sovereign team examines the credit effects of Lebanon’s economic, financial and social crisis, as well as the potential for reforms.

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Mexico’s job losses will cut across the economy; political risks rise in Belarus

podcasts@moodys.com (Evan Wohlmann, Rahul Ghosh, Gersan Zurita) — Wed, 16 Sep 2020 06:19:00 +0000

Original publish date: September 16, 2020

Inside this episode:

Gersan Zurita of the Credit Strategy & Research team discusses the steep decline in Mexican employment resulting from the COVID-19 pandemic and why the road to recovery will be long.
Evan Wohlmann of the Sovereign team explains how heightened political instability in Belarus is negative for the country’s sovereign credit quality.

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Institutional weakness and high debt burdens are leading causes of sovereign defaults

podcasts@moodys.com (Rahul Ghosh, Atsi Sheth, Elena Duggar) — Wed, 2 Sep 2020 06:19:00 +0000

Original publish date: September 2, 2020

Inside this episode:

Elena Duggar discusses the Credit Strategy & Research team’s analysis of the four main causes of sovereign bond defaults and how environmental, social and governance issues can be contributing factors.
Atsi Sheth explains how increased manufacturing output and Chinese economic activity point to an incipient rebound in global trade.

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Global remittances fall; sukuk issuance to rebound after first-half stumble

podcasts@moodys.com (Rahul Ghosh, Nitish Bhojnagarwala, Christian de Guzman) — Wed, 19 Aug 2020 06:19:00 +0000

Original publish date: August 19, 2020

Inside this episode:

Christian de Guzman of the Sovereign team discusses how lower wages and the fall in employment of migrant workers in advanced economies will result in a decline in remittances to some developing economies.
Banking team analyst Nitish Bhojnagarwala talks about our outlook for the issuance of Islamic sukuk bonds.

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Travel slump casts shadow over UAE property market and Macao gaming

podcasts@moodys.com (Sean Hwang, Lahlou Meksaoui, Rahul Ghosh) — Wed, 5 Aug 2020 06:19:00 +0000

Original publish date: August 5, 2020

Inside this episode:

Corporates analyst Lahlou Meksaoui discusses the credit outlook for UAE property developers.
Sean Hwang, also from the Corporates team, talks about prospects for a revival of Macao's gaming sector.

Related content:

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Downturn in oil demand poses obstacles for Russian oil companies

podcasts@moodys.com (Michael Higgins, Rahul Ghosh, Artem Frolov) — Wed, 22 Jul 2020 06:19:00 +0000

Original publish date: July 22, 2020

Inside this episode:

Artem Frolov of the Corporates team provides insight about our cautiously optimistic view of Russian oil companies’ credit dynamics despite the adverse operating environment.
Michael Higgins of the Sovereign team discusses the challenges and recovery prospects for non-investment grade emerging and frontier market sovereigns.

Related content:

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Pandemic shines spotlight on credit challenges in Turkey

podcasts@moodys.com (Merxe Tudela Carreres, Sarah Carlson, Rahul Ghosh) — Wed, 8 Jul 2020 06:19:00 +0000

Original publish date: July 8, 2020

Inside this episode:

Sarah Carlson of the Sovereign team examines Turkey’s economic and credit prospects following the coronavirus shock.
Merxe Tudela Carreres of the Model Development group discusses the findings of Moody’s new EM Financial Conditions Indicators series.

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Coronavirus weighs on tourism reliant EM sovereigns

podcasts@moodys.com (David Rogovic, Barbara Mattos, Rahul Ghosh) — Wed, 24 Jun 2020 06:19:00 +0000

Original publish date: June 24, 2020

Inside this episode:

David Rogovic of the Sovereigns team discusses how the global travel slump is hurting emerging market countries, particularly small island-economies with a heavy dependence on tourism revenue.
Barbara Mattos of the Corporates team shares insights as to how Brazilian mining giant Vale, a bellwether for the sector, is faring after coronavirus related disruption to its operations.

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How Beijing’s policy agenda will shape China’s credit outlook

podcasts@moodys.com (Rahul Ghosh, Michael Taylor, Kelvin Dalrymple) — Wed, 10 Jun 2020 06:19:00 +0000

Original publish date: June 10, 2020

Inside this episode:

Michael Taylor of the Credit Strategy & Research team discusses the prospects for economic recovery and employment stability in China as the country tries to revitalize growth following the coronavirus.
Kelvin Dalrymple from the Sovereign team talks about the twin shocks for East Africa of the coronavirus and a locust infestation that threatens the region’s crops.

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G-20 debt relief plan no panacea for vulnerable emerging markets

podcasts@moodys.com (Rahul Ghosh, Lucie Villa, Daniela Jayesuria) — Wed, 27 May 2020 06:19:00 +0000

Original publish date: May 27, 2020

Inside this episode:

Lucie Villa of the Sovereign team discusses a debt relief initiative for low-income countries grappling with liquidity pressures.
Daniela Jayesuria of the Structured Finance team offers insights on coronavirus-related debt moratoriums for individual and corporate borrowers in Latin America, one of the biggest securitization markets in emerging markets.

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Emerging markets confront far-reaching economic challenges

podcasts@moodys.com (Atsi Sheth, Sean Marion, Rahul Ghosh) — Wed, 13 May 2020 06:19:00 +0000

Original publish date: May 13, 2020

Inside this episode:

Atsi Sheth of the Credit Strategy and Research team shares insights on how the coronavirus will likely push the global economy into recession this year, and why the downturn poses particular risks for emerging markets.
Sean Marion of the Financial Institutions team discusses why credit risks are rising for South African banks.

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Credit challenges in Mexico and worsening prospects for the Chinese property sector

Wed, 29 Apr 2020 06:18:00 +0000

Original publish date: April 29, 2020

Inside this episode:

Ariane Ortiz-Bollin of the Sovereign team and Nymia Almeida of the Corporates team discuss the factors behind our recent rating downgrades of the Mexican sovereign and domestic energy giant PEMEX.
Insights from Franco Leung of the Corporates team on the weaker operating environment for China’s property sector, one of the most active segments in emerging Asia debt markets.

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What the worlds largest lockdown and the coronavirus mean for India

podcasts@moodys.com (Rahul Ghosh, William Foster, Alka Anbarasu) — Wed, 15 Apr 2020 06:18:00 +0000

Original publish date: April 15, 2020

Inside this episode:

India’s sweeping lockdown to combat the coronavirus outbreak is the largest restriction of movement the world has ever seen. In this episode, Moody’s analysts William Foster and Alka Anbarasu talk through the credit implications of containment efforts for the country’s government and banks.
Analyst Gabriel Torres also joins to discuss Argentina’s economic outlook and prospects for another debt restructuring.

Related content:

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Emerging market credit in the time of coronavirus

podcasts@moodys.com (Matthew Kuchtyak, Rahul Ghosh, Marie Diron) — Wed, 1 Apr 2020 06:18:00 +0000

Original publish date: April 1, 2020

Inside this episode:

Marie Diron discusses what’s ahead for emerging market sovereigns as the coronavirus outbreak spreads and demand for oil drops.
Matthew Kuchtyak discusses our outlook for sustainable finance and ESG investing in emerging markets after a landmark year in 2019.

Related content:

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