Many of the factors that challenged EM currencies in 2015 are likely to continue in the year ahead. Emerging Markets are caught between tightening policy rates in the US, a free-fall in commodity prices, which is partially driven by a China slowdown, and heightened idiosyncratic risks.
Abbas AMELI-RENANI, Bastien DRUT
After the first wave of the Covid-19 outbreak in China and East Asia, and the second wave in Western Europe and North America, a third wave now looks to be building in several EM and frontier countries.
Yerlan SYZDYKOV, Alessia BERARDI, Abbas AMELI-RENANI