The outlook for sovereign ratings in 2023 is challenging, reflecting the effects of Russia’s protracted war in Ukraine, high inflation and monetary tightening. A sharp economic slowdown, challenging fiscal dynamics, inflation and rising official rates will underpin divergence of sovereign ratings next year. More sovereign borrowers evaluated by Scope Ratings have faced downward than upward rating actions since the escalation of Russia’s war in Ukraine in February.
UK Treasury faces steep price for quantitative easing policy By John Nugée From the start of QE, the Bank of England secured an agreement with the Treasury that profits and losses would be for the Treasury’s account. Now, the Treasury may need to provide £130bn to the Bank to keep its balance sheet whole.Read the full commentary here.
MEETINGS Sustainable finance in Africa Thursday 19 January, Roundtable This roundtable, with deputy governors from both the Central Bank of Kenya and Bank of Mauritius, discusses ESG policies that incentivise the development and transparency of sustainable financial markets across Africa.Register to attend here.
ON DEMAND Jana Velebova-Harvey on the debt outlook for EM sovereigns in 2023 Jana Velebova-Harvey, senior portfolio manager in the emerging markets team at BlueBay Asset Management, speaks to the Sovereign Debt Institute on the issuance conditions for EM sovereigns in 2022 and the outlook for 2023.
LATEST REPORT Global Public Pensions 2022 The 2022 edition of OMFIF’s Global Public Pensions paints a clear and stark picture of the fundamentally changed investment challenges facing the world’s biggest asset owners.
