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Emerging Market Debt
Emerging market debt (EMD) is a term used to encompass bonds issued by Less Developed Countries. It does not include borrowing from government, supranational organizations such as the IMF or private sources, though loans that are securitized and issued to the markets would be included. A broader discussion of all types of borrowing by developing countries exists at Developing countries' debt. Issuance Emerging market debt is primarily issued by sovereign issuers. Corporate debt does exist in this category, but corporations in developing countries generally tend to borrow from banks and other sources, as public debt issuance requires both sufficiently developed markets and large borrowing needs. Sovereign issuance has historically been primarily issued in foreign currencies (external debt), either US Dollars or Euros (hard currency versus local currency). In recent years the development of pension systems in certain countries has led to increasing issuance in local currencies. EM ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond (finance)
In finance, a bond is a type of security under which the issuer ( debtor) owes the holder ( creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an equity stake in a company (i.e. they are owners), whereas bondholders have a creditor stake in a company (i.e. they are lenders). As creditors, bondholders have priority over stockholders. This means they will be repaid in advance of stockholders, but will rank behind s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Russian Financial Crisis
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries. Background and course of events The Russian economy had set up a path for improvement after the Soviet Union had split into different countries. Russia was supposed to provide assistance to the former Soviet states and, as a result, imported heavily from them. In Russia, foreign loans financed domestic investments. When it was unable to pay back those foreign borrowings, the ruble devalued. In mid-1997 Russia had finally found a way out of inflation. The economic supervisors were happy about inflation coming to a standstill. Then the crisis hit and supervisors had to implement a new policy. Both Russia and the countries that exported to it experienced fiscal deficits. The cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asian Bond Markets
Asian bond markets are growing rapidly as Asian borrowers switch away from short term bank loans towards longer term debt financing. Although Asia also includes countries of the Middle East, some CIS countries and the vast majority of the land mass of Russia and Turkey, in financial markets it is often only East Asia and South Asia that are included in the term. Issuance Issuance in Asia is predominantly issued by sovereign issuers but corporate bonds are becoming an important source of growth in Asian fixed-income markets. Currently issuance is predominantly in US dollars, although local currency issuance is also growing. Asian governments, central banks and the Asian Development Bank are keen to see the expansion of Asian bond markets over the next few years in order to help provide finance for the large infrastructural development that the region needs over the next decade. Alongside the expansion of the bond markets, Asian governments and central banks are currently discussing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thailand
Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the extremity of Myanmar. Thailand also shares maritime borders with Vietnam to the southeast, and Indonesia and India to the southwest. Bangkok is the nation's capital and largest city. Tai peoples migrated from southwestern China to mainland Southeast Asia from the 11th century. Indianised kingdoms such as the Mon, Khmer Empire and Malay states ruled the region, competing with Thai states such as the Kingdoms of Ngoenyang, Sukhothai, Lan Na and Ayutthaya, which also rivalled each other. European contact began in 1511 with a Portuguese diplomatic mission to Ayutthaya, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed by the Yellow Sea, while its eastern border is defined by the Sea of Japan. South Korea claims to be the sole legitimate government of the entire peninsula and List of islands of South Korea, adjacent islands. It has a Demographics of South Korea, population of 51.75 million, of which roughly half live in the Seoul Capital Area, the List of metropolitan areas by population, fourth most populous metropolitan area in the world. Other major cities include Incheon, Busan, and Daegu. The Korean Peninsula was inhabited as early as the Lower Paleolithic period. Its Gojoseon, first kingdom was noted in Chinese records in the early 7th century BCE. Following the unification of the Three Kingdoms of Korea into Unified Silla, Silla and Balhae in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poland
Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous member state of the European Union. Warsaw is the nation's capital and largest metropolis. Other major cities include Kraków, Wrocław, Łódź, Poznań, Gdańsk, and Szczecin. Poland has a temperate transitional climate and its territory traverses the Central European Plain, extending from Baltic Sea in the north to Sudeten and Carpathian Mountains in the south. The longest Polish river is the Vistula, and Poland's highest point is Mount Rysy, situated in the Tatra mountain range of the Carpathians. The country is bordered by Lithuania and Russia to the northeast, Belarus and Ukraine to the east, Slovakia and the Czech Republic to the south, and Germany to the west. It also shares maritime boundaries with Denmark and Sweden. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kazakhstan
Kazakhstan, officially the Republic of Kazakhstan, is a transcontinental country located mainly in Central Asia and partly in Eastern Europe. It borders Russia to the north and west, China to the east, Kyrgyzstan to the southeast, Uzbekistan to the south, and Turkmenistan to the southwest, with a coastline along the Caspian Sea. Its capital is Astana, known as Nur-Sultan from 2019 to 2022. Almaty, Kazakhstan's largest city, was the country's capital until 1997. Kazakhstan is the world's largest landlocked country, the largest and northernmost Muslim-majority country by land area, and the ninth-largest country in the world. It has a population of 19 million people, and one of the lowest population densities in the world, at fewer than 6 people per square kilometre (15 people per square mile). The country dominates Central Asia economically and politically, generating 60 percent of the region's GDP, primarily through its oil and gas industry; it also has vast mineral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia. Modern humans arrived on the Indian subcontinent from Africa no later than 55,000 years ago., "Y-Chromosome and Mt-DNA data support the colonization of South Asia by modern humans originating in Africa. ... Coalescence dates for most non-European populations average to between 73–55 ka.", "Modern human beings—''Homo sapiens''—originated in Africa. Then, int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Czech Republic
The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The Czech Republic has a hilly landscape that covers an area of with a mostly temperate continental and oceanic climate. The capital and largest city is Prague; other major cities and urban areas include Brno, Ostrava, Plzeň and Liberec. The Duchy of Bohemia was founded in the late 9th century under Great Moravia. It was formally recognized as an Imperial State of the Holy Roman Empire in 1002 and became a kingdom in 1198. Following the Battle of Mohács in 1526, the whole Crown of Bohemia was gradually integrated into the Habsburg monarchy. The Protestant Bohemian Revolt led to the Thirty Years' War. After the Battle of White Mountain, the Habsburgs consolidated their rule. With the dissolution of the Holy Empire in 1806, the Cro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JPMorgan EMBI Global Diversified Index
JPMorgan Chase & Co. is an American Multinational corporation, multinational Investment banking, investment bank and financial services holding company headquartered in City of New York, New York City and Delaware General Corporation Law, incorporated in Delaware. As of 2022, JPMorgan Chase is the List of largest banks in the United States, largest bank in the United States, the world's List of largest banks, largest bank by market capitalization, and the List of largest banks, fifth largest bank in the world in terms of total assets, with total assets of US$3.774 trillion. Additionally, JPMorgan Chase is ranked 24th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a Systemically important financial institution, systemically important bank by the Financial Stability Board. As a "Bulge Bracket" bank, it is a major provider of various investment banking and financial services. It is one of America's Big Four (banking)#United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JPMorgan EMBI
The JPMorgan Emerging Market Bond Index (EMBI) are a set of three bond indices to track bonds in emerging markets operated by J P Morgan. The indices are the ''Emerging Markets Bond Index Plus'', the ''Emerging Markets Bond Index Global'' and the ''Emerging Markets Bond Global Diversified Index''. Emerging Markets Bond Index Plus The Emerging Markets Bond Index Plus (EMBI+) tracks total returns for traded external debt instruments (external meaning foreign currency denominated fixed income) in the emerging markets. The regular EMBI index covers U.S.dollar-denominated Brady bonds, loans and Eurobonds. The EMBI+ expands upon J.P.Morgan's original Emerging Markets Bond Index (EMBI), which was introduced in 1992 and covered only Brady bonds. An external debt version, the EMBI+ is the JPMorgan EMBI Global Index In addition to serving as a benchmark, the EMBI+ provides investors with a definition of the market for emerging markets external-currency debt, a list of the instruments tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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