Policy rate cuts by the central banks of Hungary, Philippines and Mexico took EM policy rates to a new all-time low.

The three largest Andean countries (Colombia, Chile and Peru) announced steps to increase fiscal expansion.

The number of coronavirus cases is increasing again in Latin America, one of the few regions where the spread of the virus is still accelerating.

The common characterisation of US-China relations as a new Cold War is wrong.

EM CPI inflation declined to a record low in May, according to preliminary data.

It cannot have escaped investors’ attention that stock markets are surging and spreads are tightening.

The coronavirus outbreak was an unprecedented shock to the global economy, which experienced the fastest and deepest recession outside times of war.

China’s National People’s Congress approved new security legislation for Hong Kong.

Ecuador implemented further economic reforms.

The finance ministers of 16 African countries requested a 2 year suspension of payments to debt owed to International Financial Institutions (IFIs), but said debt relief should not be conditional upon suspension of payments on Eurobonds.

Everyone knows why the Soviet Union and the Eastern Bloc countries lost the Cold War: economics.

Index-weighted CPI inflation declined to the lowest level in nearly two decades.

The recently launched G20 initiative to provide debt relief for poorer Emerging Markets (EM) countries may be well-meaning, but it is also seriously misguided. In particular, the proposal fails on two counts.

EM local bond yields set a record low despite outflows.

As of 27 April 2020, eighteen times more people have died from coronavirus per million of population in developed countries (DMs) than in Emerging Markets (EM).

Political uncertainty rises in Brazil after Justice Minister Sergio Moro’s resignation.

The tendency for global capital to flee ‘risky’ EM countries indiscriminately in favour of ‘risk free’ developed markets during outbreaks of global risk aversion is one of the great international market failures of  our time.

The G-20 stepped in to help the least developed countries to cope with the ‘sudden stop’ financial shock caused by the coronavirus outbreak.