Delightful diversification

Often underappreciated, the benefits of diversification in external debt were richly on display in 2019, when the asset class returned 15% despite significant volatility in a number of EM countries, including Argentina. In addition to summarising the returns for 2019, the Weekly covers developments in China, Ivory Coast, India, CFA soon to be Eco countries, Thailand, Bolivia, Brazil, Singapore, South Korea, Russia and the global backdrop, including the latest escalation in the US conflict with Iran.