Money to go towards aiding structural reform.
Move by MSCI will open door to greater investment.
Moody’s upgrades country’s rating, citing improved fiscal position and successful reforms.
Republic raises US$3.5bn in largest ever bond deal.
Heads of the IMF, EBRD, AfDB and others meet to discuss encouraging long-term investment across regions.
Ratings agency says curbing the deficit is no longer enough to restore confidence.
A US$4.8bn agreement with the IMF should set Egypt on the path to growth, providing long-term instability can be avoided.
Asset manager PineBridge announces Manama office while Fitch reaffirms sovereign’s rating.
Despite Libya’s growing internationalisation as being a reasonably stable, tolerate and welcoming environment for investment, a reputation that is bolstered by a variety of customs duties and tax breaks for large projects, some UK investors are not short of criticism about the country’s lack of transparency and at times ambiguous and conflicting announcements from Libya’s key decision and policy makers. These issues, among others, were at times hotly debated at the Middle East Association’s Libya conference held in London on July 23.
On July 1, the republic of Macedonia has issued a fixed-rate €175mn Eurobond with a 9.875% coupon which matures in 2013. The money is said to finance the country’s budget gap and prop up the currency.
European financing for a hydroelectric plant in Turkey was suspended on July 7 after Turkey failed to offer environmental protections in the area around the Tigris River where antiques from the Middle Ages will be flooded by the dam.
As South Africa enters its first economic recession for 17 years, analysts and investors watched closely as new president Jacob Zuma laid out his policies in his inaugural state of the union address.