China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

The truth about Asian investment banking

March 2006

Egypt: Debt needs derivatives

by Kathryn Wells

Synthetic bond is a precursor to bonds in Egyptian pounds.


Egypt will have to develop an effective derivatives market before international issuers can sell bonds denominated in Egyptian pounds.

This is the conclusion of David Clark, head of funding (non-euro) at the European Investment Bank, after the bank’s first synthetic Egyptian pound issue last month, which it sees as a stepping stone on the way...


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