Southeast Asian crisis reduces bond
volumes. Loan volume remains strong. Stock markets fall nine
percent. Foreign Direct Investment to Latin America
accelerates in ... Show More +1997. Multilateral commitments up slightly. Show Less -
Developing-country bond issues decline
slightly in the third quarter. More Easter European and
North African countries tap the market. Developing-country
issuers co... Show More +ntinue to expand funding sources. Syndicated loan
commitments drop. Lending for project finance rebounds.
Mexico's outlook improves, Egypt requests rating, and
Turkey and Pakistan under review. Emerging stock markets
down in July, with some recovery in August and September.
Mutual funds investing in emerging-market securities have
taken off. Asian, US companies boost presence in Latin
America. Privatization efforts continue in several
countries. East Asian bond issues on the rise. Show Less -
Developing-country bond issues continue
upward trend. Dollar market gains ground. Thailand allows
IFC to issue bath bonds. Secondary market prices up in
second quar... Show More +ter. Loan commitments fell in second quarter.
Slovenia jumps into Eurobond market. Emerging markets strong
in second quarter, plummet in July. FDI sets new record in
1995, strong growth expected in 1996. Privatization off to a
slow start, while direct sales continue. World Bank
commitments decline slightly in fiscal 1996. Paris Club
stock of debt operations negotiated. Show Less -
Investors favor longer maturities,
fixed-rate issues in first quarter. Rise in BIS Banks'
cross-border claims slows in 1995's third quarter.
Borrowing for project f... Show More +inance plummets in first quarter of
1996. Survey shows creditworthiness improvement in Latin
America and Eastern Europe. Emerging stock markets off to a
good start. New equity issues retreat from fourth-quarter
level. New funds to invest in the Middle East. Closed-end
emerging-market funds outpace industrial-market
counterparts. Interest in Latin America derivative markets
revive. Foreign direct investment in developing countries
hits new high in 1995. Privatization proceeds drop. Wide
swings in secondary market prices during first quarter of
1996. Capital ratios show mixed results. Show Less -
China's equity markets take off.
Borrowing in medium- and long-term debt continues upward.
Bond issues retreat in the fourth quarter, but set record
for the year. S... Show More +maller issues, shorter maturities, and higher
spreads for borrowers. Borrowers diversify funding source,
and governments lead developing-country borrowing.
International financial market activity sets new high in
1995. BIS banks' cross-border claims and net credit
accelerate. Project finance sets record in 1995. New equity
issues in the fourth quarter. Emerging market funds end the
year on optimistic note. Some recovery in derivative
markets. Privatization activity picks up in Eastern Europe.
Secondary market prices up during quarter. Show Less -
Portfolio flows after Mexico : the end
of innocence. Bond issues gain momentum. Bank's
cross-border claims and net credit continue to expand.
Bank's exposure in dev... Show More +eloping countries rises. Emerging
stock markets show mixed results. New equity issues form
Asia continue to dominate. Emerging market mutual funds
continue to struggle. Derivatives markets are down. OECD
starts negotiations on multilateral agreement on investment.
Privatization activity remains in a slump. Buybacks spur
prices of developing-country debt. US Ex-Im Bank introduces
new exposure fee system. Major US banks show slight decline
in capital adequacy ratios. Show Less -
East Asia's bond markets set to
explode. Developing countries raise less in medium- and
long-term debt. Bond issuers offer shorter maturities and
higher spreads. Lo... Show More +wer bond borrowing in capital markets. New
syndicated lending remains strong. BIS banks'
cross-border claims and net credit continue to climb. Higher
volumes and longer maturities for project finance. Emerging
markets recover. Slowdown in US sell-off of emerging-market
equities. Emerging-market mutual funds recover.
Privatization pick up slowly. Substantial recovery from the
Mexican crisis. OECD reports drop in real development aid. Show Less -
Composition of capital inflows matters
for sustainability. Investors seesaw on the Mexican
devaluations and uncertainty about the US dollar. Issuers
offer more floa... Show More +ting-rate notes. Korean issuers in evidence.
International financial market activity hits record high in
1994, despite interest rate and currency concerns.
Syndicated loan market volumes surge in 1994. Project
finance to developing countries for 1995 likely to be on par
with 1994 level. Eastern Europe's recovery boosts
ratings. Emerging markets off to a rocky start. Equity
issues come to a halt. Price declines in emerging-market
mutual funds continue in 1995. Privatization off to a slow start. Show Less -
Integration with world markets reduces
volatility of emerging equity markets. Investors rethink
developing-country risk on rising interest rates and the
crisis in M... Show More +exico. Bond issues higher but regional trends
differ sharply. Issuers face tighter borrowing. Foreign
investors leave Mexico's domestic debt market. New
syndicated lending remains strong. Investor concerns subdue
international capital markets. Project finance to developing
countries rises. Rating agencies reassess Mexican risk;
several credits improve. US investors buy fewer foreign
stocks. Strong demand for capital fuels equity issuance.
Stock mutual funds down in a volatile year. Smaller emerging
markets continue to attract funds. Several countries report
progress on privatization. Secondary markets for debt hit by
sell-off. US banks report higher earnings. Local and global
factors affect emerging equity market volatility. Show Less -
Industrial countries favor developing
countries as locations for foreign direct investment.
Developing-country bond issues rebound in the third quarter.
Smaller iss... Show More +ues, shorter maturities, and higher spreads for
borrowers. Borrowers diversify funding sources, and new
issuers tap the international market. Developing-country
borrowers face a bunching of debt maturities. Financial
institutions lead developing-country borrowing. In the
second quarter inflation concerns slowed international
capital market activity. New syndicated lending rebounded in
the second quarter because of refinancing and mergers and
acquisitions activity. Higher volumes and better terms for
project finance. Developing-country creditworthiness
continues to improve. In the second quarter US investors
continued to diversify into foreign, including
developing-country, equity. Stock mutual funds snap out of
first-half slide. Funds target smaller emerging markets.
Record high foreign direct investments flows to developing
countries. Investors seeking higher yields bolstered 1993
trading volumes. Show Less -
International capital market activity
slowed in the second quarter of 1993. Bond issues were well
down on the record high of the first quarter. Lending
revived, tha... Show More +nks more to special factors, than to any
improvement in underlying fundamentals. Equity issues in
developed stock markets soared. In the third quarter of
1993, developing-country borrowers were active in the bond
markets. The trend of larger issues, lower spreads, and
longer maturities continued. Developing-country borrowers
were active in the Deutsche Mark market. Institutional
investor reports a continuing improvement in
developing-country creditworthiness, and Euro-money also
reports a strengthening of country risk in several
developing countries. Developing-country corporations were
active in international equity markets in the third quarter.
Several new country funds are launched. Secondary market
prices for developing-country debt rose in the third
quarter, thanks to declining yields in the US long bonds.
Prospects for Brady-style debt treatment also fueled prices.
Despite greater integration with industrial-country markets,
emerging markets still appear inefficient. Show Less -
The hows, whys, and wheres of private
capital inflows. In the second quarter bond issues by
developing countries continue to slide. In uncertain
markets, investors ... Show More +shift into floating-rate notes; shorter
maturities and smaller issues gain favor. Emerging-market
borrowers seek to diversify funding sources; India returns
to the bond market. Secured deals attract investors.
International capital activity continues to rise in the
first quarter of 1994. Refinancing, and mergers and
acquisitions, fuel new syndicated lending. Upward trend in
project financing, especially for infrastructure. Increasing
demand by derivatives market participants for counterpart
risk ratings. Equity issue volume tumbles on weak market
conditions. Stock mutual funds continue to perform poorly.
Funds seek unlisted stocks. Demand for developing-country
derivatives rises. Foreign direct investments goes
increasingly to finance infrastructure. The decline in
developing-country debt prices slows. Show Less -
Legal barriers and foreign investment.
Developing-country bond issues dropped sharply in the first
quarter of 1994. Weak investor demand contains global
issues. The... Show More + structural trend toward greater portfolio
diversification by global investors continue. Rising
interest rates and greater volatility push up issues of
floating-rate notes. Emerging-market issuers continue to
access the Yen market. Asset-backed securities gain some
favor. International capital market activity was at a record
high in 1993, thanks to low interest rates. Record
international equity issues in 1993, thanks to
privatization. Greater integration with industrial-country
markets boosts developing-country creditworthiness. Stock
mutual funds performed poorly in the first quarter of 1994.
Equity-linked instruments affected by falling stock market
performance and volatile markets. Foreign direct investments
in developing countries projected to grow moderately in the
medium term. Show Less -
Financing foreign direct investment.
Maturities lengthen, with the first 30-year issue out of
Mexico, and the first 10-year deal from Brazil. Borrowing
spreads tigh... Show More +ten on high investor demand, and NAFTA squeezes
spreads on Mexican debt. Local bond markets offer
international investors high yields. International capital
markets rebounded in the third quarter. International equity
issues rose in the third quarter, boosted by privatizations.
Fourth quarter lending to developing countries slows. Good
reporting requirements, reliable settlement systems, and
transparency are ranked highly by institutional investors.
Developing-country international equity issues surge as
local firms try to raise funds cheaply. Investors seeking
high returns fuel secondary market price of
developing-country debt. Show Less -
International lending and capital
markets: global borrowing; developing-country borrowing;
commercial bank claims; country creditworthiness. Equity
portfolio and fo... Show More +reign direct investment: emerging stock
markets; new equities, quasi-equities, and derivatives;
foreign direct investment and privatization. Secondary
market for developing-country debt. Official flows -
bilateral and multilateral: bilateral ODA and export
credits. Debt relief update: official creditors; commercial
creditors. Commercial bank provisioning and capital
adequacy. Financial brief: putting derivatives in their place. Show Less -