It might not be a great year for emerging market returns, but real progress is being made in perhaps the most important part of, well, emerging as a market – the development of local financial markets.
The banks on Euromoney’s shortlist for world’s best bank for public-sector clients were all hard at work during the awards period helping EM clients reduce their exposure to the appreciating dollar through liability management exercises on outstanding debt issues or FX solutions such as cross-currency swaps on dollar denominated loans.
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