Turkey paid its last loan installment to the International Monetary Fund after a 52-year relationship, a triumph for Prime Minister Recep Tayyip Erdogan as government debt falls even as private borrowing surges.
Sub-Saharan African nations outside South Africa are selling $7 billion of debt this year, more than in the past five years combined, as yields more than double those of Treasuries lure investors repelled in the past by violence and corruption.
The euro has lost its allure for nations in central and Eastern Europe with floating currencies as their borrowing costs fell below those in some euro region states because of the Greek crisis, said ING Groep NV.
Poland’s economy may grow 2 percent next year, half the government’s forecast, as western European banks hurt by the euro crisis curb lending and slower global growth damps demand for exports, Renaissance Capital said.
Rwandan President Paul Kagame has been criticized by the U.S. government and advocacy groups for cracking down on civil liberties and trampling on human rights. Investors are more focused on how his policies have fostered one of Africa’s fastest-growing economies.
Three oil-producing African nations are preparing to sell as much as $3.75 billion in international bonds in 2013, the most from the continent ever, after yields sank below Italy and Spain and investors set aside concerns sparked by Ivory Coast’s default almost two years ago.
Dmitry Medvedev may struggle to hold onto his new post as Russian prime minister as the budget buckles and the finance official he ousted waits in the wings to take over, investors and analysts from Moscow to London say.