Alibaba Group will this week serve up the world’s largest ever IPO as FinTech affiliate Ant Group is floated on Chinese stock exchanges. There is also a presidential election in the United States. In the rest of the world, Brazilian banks maintained a high rate of credit expansion and Petrobras changed its dividend policy. Argentina continued to focus on the wrong “structural” issues. The South African Medium Term Budget Statement pointed in the right direction, but execution is critical if investor confidence is to be restored. The Central Bank of Turkey acknowledged that inflation is rising due to currency weakness. Ivory Coast presidential elections had limited violence as President Ouattara aims for a third term in office. China Development Bank granted Zambia deferral of interest payments. Bahrain’s FX reserves rose, but by less than ongoing outflows.