The realities of emerging market CDS

As restructuring rather than default becomes the norm for credit events in the emerging markets, it is time for those involved in the market to reappraise the effects of distressed situations on credit default swap prices, argue Manmohan Singh and Jochen Andritzky

East or west, why local currency is best

Emerging-market and convergence investors have long since stopped buying hard-currency debt from the new European countries after their spreads converged with EU government levels, but the region's local-currency debt is attracting ever more inflows.

Country risk Sep 2005

Country risk index: Most countries have better access to capital than ever before and sovereign credit ratings have been on the rise for the past three years.

C&EE: Engineering a debt management agency

Dragos Neacsu, a former civil engineer and latterly investment banker, has taken on the challenge of overcoming the many shortcomings of Romania's debt strategy from the foundations up.

Kazakhstan's bankers' banker

Grigorii Marchenko, chief executive of Halyk Bank and former governor of Kazakhstan's central bank, talks to Euromoney about bank capitalization, the development of consumer banking products, Kazakhstan's economic policy and the country's regional role.