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EM to contribute the largest share of global GDP growth in the next five years, according to the IMF
Weekly investor research
19 October 2020
The IMF reported that the largest share of global GDP growth over the next five years is expected to come from EM. Argentina marginally increased interest rates in a vague attempt to control USD purchases. China posted strong trade balance and credit creation. India unveiled a moderate fiscal expansion to support the economy. Indonesia announced electric vehicle battery companies intend to invest USD 20bn in new projects in the country. Oman introduced a 5% VAT tax to shore up its fiscal accounts. Zambia entered the grace period after missing a coupon payment on its 2024 Eurobond. Malaysia and Czech Republic announced social distancing measures to contain coronavirus surges.