1 Jun 2006, 00:00 - 14 Oct 2025, 02:23
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Publicación
Asset prices in emerging markets rallied to record highs in the first quarter of 2006, with bonds and equities posting strong performances on top of already remarkable 2005 gains. Spreads on dollar-denominated bonds issued by Latin American borrowers tightened by 68 basis points in the first quarter of the year, according to the Latin component of J.P. Morgan's EMBI+ index, while the Morgan Stanley Capital International (MSCI) for Latin America, an indicator of stocks' performance, increased by 15%. Emerging and Latin American markets continued to be supported by active debt managem…
1 Feb 2006, 00:00 - 14 Oct 2025, 02:23
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Publicación
Emerging market bond spreads tightened to record low levels in 2005, as a result of the search for yield in face of ample global liquidity and improving fundamentals in emerging market countries. According to J.P. Morgan, most of the EMBI Global's 8.96% total return in 2005 was derived from spread tightening, which totaled 110 basis points in 2005. The EMBI+ spreads tightened 111 basis points and its Latin component tightened 137 basis points in 2005. Emerging and Latin American markets were also supported by active debt management, as countries took advantage of the favorable external en…
1 Abr 2004, 00:00 - 14 Oct 2025, 02:23
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Publicación
In the fourth quarter of 2003, net capital flows to emerging markets accelerated sharply to reach a 3-year high of US$187 billion, a 50% increase from the US$124 billion reached in 2002. This increase is the result of the combination of abundant global liquidity, strong economic growth, and the improving credit quality of borrowers in both mature and emerging markets. Emerging markets were favored by moderate volatility, low risk-free interest rates and rising commodity prices. In addition, a weak US dollar, solid cash flows and search for yield supported the rally to Latin American countries.…
21 Oct 2003, 00:00 - 14 Oct 2025, 02:23
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Publicación
In the first half of 2003, emerging debt markets rallied, as disillusionment with equities, geopolitical concerns, and doubts about growth prospects led investors to shift from equities in favor of fixed incomes securities. As equity prices in the United States struggled early in the year, and the price of U.S. Treasuries rose to a 40-year high, attention was drawn to emerging market assets. Emerging debt markets were driven by liquidity, rising risk tolerance, a search for yield and a wider investor acceptance of the asset class. As a consequence, credit spreads on emerging market bonds narr…
With the first signals of a global economic recovery, prospects for private capital flows to emerging markets improved in the first quarter of 2002. Despite the concerns over corporate accounting practices in the U.S. and the deepening of the economic and financial crisis in Argentina, emerging equity and bond markets have outperformed those in industrialized countries. Emerging market equities and bonds in the first quarter of the year continued to show the strong performance that started in the fourth quarter of last year. The overall JP Morgan Chase EMBI+ excluding Argentina rose about 20%…
16 Jun 2003, 00:00 - 14 Oct 2025, 02:23
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Publicación
The emerging markets debt class entered 2003 in sound shape. Similar to 2002, emerging markets debt finished the first quarter of 2003 as the top performer over all other fixed income asset classes, as well as equity markets. The downside risks for the global recovery, uncertainty about the length of the war with Iraq, and the deteriorating economic outlook in the US and Europe actually contributed to highlight the benefits of diversification into emerging markets. The flow of funds into emerging debt markets was a major factor pushing spreads down during the quarter. These inflows were drive…
1 Jun 2006, 00:00 - 14 Oct 2025, 02:23
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This document was prepared by the Economic Projections Centre, under the supervision of Hubert Escaith, Director of the Statistics and Economic Projections Division of the ECLAC. André Hofman, Chief of the Economic Projections Centre (ECP), was in charge of technical coordination and for conducting the study. The assistance of the national and subregional offices and of the ECLAC Economic Development Division was much appreciated. The views expressed in this document, which have not been formally edited, are the sole responsibility of the working group and do not necessarily reflect the vi…
The aim of this paper is to provide an overview of the gender and social disparities existing in the
agricultural and rural sector in Caribbean economies. In this context, agricultural transformation as
occasioned by the dismantling of preferential trading arrangements is analysed to identify the most
relevant gender discriminatory measures in the current agricultural development policy and
programmes. The analysis seeks to provide the basis for enhancing understanding among policy
makers, planners and rural development practitioners of the gender and social dimension involved
in the formulati…
1 Nov 2004, 00:00 - 14 Oct 2025, 02:24
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Publicación
During the second quarter, the prospect of an unexpected U.S. interest rate increase weakened investors' appetite for risk, and capital flows to Latin America faded in response. Latin American spreads increased by 71 basis points during the quarter, up to 607 bps at the end of June, from 536 bps at the end of March. Quarterly issuance in Latin America also suffered, dropping to US$4.7 billion, a level not seen since the last quarter of 2002. As a result, Latin America moved behind Eastern Europe, which issued US$6.3 billion or 39% of total emerging market issuance, compared to 29% for L…
1 Nov 2004, 00:00 - 14 Oct 2025, 02:24
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Publicación
In the third quarter of 2004, the positive interaction of external and domestic factors in the Latin American region created a favorable environment for capital inflows. Among the external factors, an unprecedented amount of global liquidity, combined with an environment of low risk-free rates and a search for yield, was one of the main driving forces in the third quarter. Liquidity and low rates benefited not only emerging market debt, but all risky assets, which have become highly correlated among themselves. However, in the case of emerging markets, and Latin American markets in particular,…
1 Jun 2005, 00:00 - 14 Oct 2025, 02:23
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Publicación
Latin American markets entered 2005 with impetus, as the favorable environment for capital inflows at the end of 2004 persisted in the beginning of the year. However, investors' sentiment deteriorated as the first quarter progressed, and concerns about economic conditions (including rising interest rates in the United States and lower liquidity in global markets) increased. In February, Fitch, the credit rating agency, released a report warning that a combination of slowing global growth and higher-than-anticipated U.S. interest rates would lead to a less favorable environment for emergin…
Investors expect a strong finish for emerging markets this year, as market environment remains supportive of credit products, especially those with strong fundamentals and interesting yields, which is the case for emerging markets. Since the start of the year there were two sets of forces driving emerging markets debt: global liquidity and fundamental credit improvements. To a large degree, improving credit quality has itself been the result of ample global liquidity and the low interest-rate environment. Against this backdrop, spreads reached record low levels and issuance was boosted. The we…
Brazil's electoral outlook and the external backdrop were the main drivers of Latin American credits in the third quarter of 2002, thus the performance of Latin American markets continued to be pressured by Brazil's fate and the ebb and flow of investors' risk appetite. The region had a rare month of outperformance in August, as the prompt negotiation of an IMF agreement for Brazil and the moderation of global risk aversion brought strong returns for Brazil, in particular, and for countries considered high-risks in general. However, risk aversion peaked again in September, retur…
15 - 18 Abr
2024, 04:00 - 10:00
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Evento (Foro de Países de América Latina y el Caribe sobre el Desarrollo Sostenible)
La Séptima Reunión del Foro de los Países de América Latina y el Caribe sobre el Desarrollo Sostenible se llevará a cabo en Santiago, del 15 al 18 de abril de 2024.…