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’Egypt’s MSCI countdown
Tick tock, tick tock.
Egypt faces another problem.
If the Cairo stock exchange does not reopen by the end of the next week, it could be kicked out of the MSCI regional indices (that’s Emerging Markets,
Peak Testosterone
An interesting application of political science to the market, from Deutsche Bank analysts:
Youth bulges in emerging markets likely to decline sharply from 2010–2020
Emerging-market youth bulges are projected to decline in the next decade (except in sub-Saharan Africa,
Moody’s global bank review, redux
Moody’s comprehensive re-examination of its ratings on the world’s banks continues apace. Here’s an overview of the actions taken since May 21:
- Moody’s reviews five Kazakh financial institutions for downgrade
London,
Political fat tails
Probability distributions didn’t do a great job predicting financial meltdown, and we’re not sure they’ll be much better at predicting general events. But, since it’s not far-fetched to think that political extremes can follow economic ones,
IMF ‘has six days to save Pakistan’
The IMF has less than a week to prevent a full-blown financial crisis in Pakistan, Germany’s foreign minister warned yesterday, as Islamabad said it was nearing agreement with the fund over a bail-out package.
Emerging (markets) squeeze
Speaking of emerging market economies in the 1990s, we may be having a repeat.
This is from Sean Corrigan, chief investment strategist at Diapason Commodities Management.
Public sector surpluses
Pakistan seeks IMF loan deal
Pakistan’s finance ministry has begun working on a loan deal with the International Monetary Fund to restore investor confidence and avoid default on foreign payments, a senior government official said on Sunday.
The other collapse
This one in Pakistan, with fewer financial implications than Iceland‘s, perhaps, but more geopolitical ones.
Related links:
Pakistan facing bankruptcy – Telegraph
CDC answers Pakistan’s call for private equity
More good news for Pakistan. The country, which is courting private equity groups to meet its pressing need for infrastructure investment, has convinced CDC, the UK government’s private equity fund, to invest in the country for the first time.
Investors move in on Pakistani telco, bank assets
It has been a good week for Pakistan, as foreign investors flocked to the government’s sale of a stake in the country’s third largest bank, and several big telecommunications companies competed for a stake in a leading Pakistani mobile phone operator.