March 07, 2014
March 06, 2014
March 04, 2014
February 14, 2014
February 05, 2014
February 04, 2014
January 30, 2014
Infrastructure Investing. It Matters.
February 25, 2014 — IIF and Swiss Re released today a joint report emphasizing the importance of long term investments to support infrastructure growth and development—a key topic of discussion at the G20 Meeting in Sydney earlier this month. With annual infrastructure spending of $2.6 trillion expected to grow to $4 trillion annually by 2030, diversifying long-term investment funding sources for the real economy is essential. As the public sector struggles to meet these financing needs, institutional investors play an increasingly important role in providing long-term capital. The report recommends a specific set of actions to address existing impediments to long-term investing, and sets forth a proposal for private-public partnerships with the goal of further developing infrastructure as an asset class.
The G20 Agenda under the Australian Presidency: G20 Should Focus on Regulatory Agenda and Emerging Markets
February 20-21, 2014 — IIF held “The G20 Agenda under the Australian Presidency” in Sydney at the time of the first G20 Ministerial Meetings of the year. In an Op-Ed in the Australian Financial Review ahead of the conference, a video interview with CNBC, and a Policy Letter to Australian Treasurer Joe Hockey, IIF President and CEO Tim Adams argues that the G20 should regard recent turbulence in emerging markets as an opportunity to regain momentum in addressing some of the issues that Australia has put on the table for the meeting: promoting stronger economic growth, creating jobs, and making the global economy more resilient to future shocks.
March 2014 Global Economic Chartbook
The March edition of the IIF Global Economic Chartbook summarizes our current views on the global economy, including a section on downside risks. It also focuses on our latest assessment of capital flows to emerging economies as well as the structural challenges for many EMs. The underlying data for the charts presented are available for download in PowerPoint format—you are encouraged to use the charts and data in your own work.
March 2014 Global Regulatory Update
March 4, 2014 — This month’s IIF Global Regulatory Update provides updates on current work streams in regulatory capital, recovery and resolution, data requirements, accounting and disclosure, and insurance, as well as upcoming events.
Ukraine: A Step Back From the Brink?
The dramatic events that led to the formation of a new reformist majority in parliament have provided a second chance for Ukraine’s battered economy. However, this would require the prompt formation of a new government able to undertake the reforms needed to alleviate the acute macroeconomic imbalances, put the economy on sound footing and safeguard an external financial support. With the Russian bailout likely to be put on hold, this assistance should amount to at least $20 billion this year alone. Given the massive adjustment needed and the social and economic pain it would entail, this government would need to be inclusive, credible and enjoying broad-based popular support. Risks of prolonged political uncertainty still remain substantial, however, raising odds of delays in implementing reforms with potentially disastrous consequences for financial stability and growth.
Emerging Markets in Focus
Turbulence in Emerging Markets has worried investors, with many concerned about contagion. In recent analyses by IIF, we take a look at the underlying economic fundamentals and current capital flows to emerging market economies. In the end, IIF does not anticipate a sustained pullback from emerging markets and forecast a gradual rebound of capital flows in 2014/2015. Read our latest Capital Markets Monitor, Capital Flows to Emerging Market Economies, and Emerging Markets Bank Lending Conditions Survey.
Kenya: Poised For Stronger Growth
Kenya looks set to enter a phase of higher growth and smaller deficits, but many challenges and risks remain. Reforms under the recently completed IMF program have put the economy on a firmer financial footing, and investment in infrastructure and the discovery of oil and coal have enhanced prospects further out. The large current account and fiscal deficits remain a challenge, however. The move to a devolved fiscal structure will add to costs initially and will need careful management, but revenue enhancing reforms should help consolidate public finances going forward. The upcoming maiden Eurobond issue will fund a significant portion of this year’s large borrowing requirement.
Brazil: Stuck in a Growth Rut
Brazil is entering its fourth consecutive year of below-trend economic growth. Tightening global financing conditions find the country with a strong external balance sheet, but also a complicated policy position. Above-target inflation has limited its capacity to rely on real depreciation as a shock absorber and prompted forceful monetary tightening. Elections in October are likely to delay a highly needed confidence-boosting policy realignment and/or initiation of major structural reforms, preconditions for lifting trend growth. Without these, growth will remain subpar, thereby increasing the risk of social tensions.
February 2014 Global Economic Monitor
A general sense of confidence in the global outlook at the turn of the year has quickly been replaced by rising nervousness and risk aversion as the data flow has been mixed, financial market conditions have turned volatile, and political developments have raised concerns in some vulnerable countries. While the fundamental drivers for an acceleration in the global economy remain in place, the expansion will continue to be uneven, and prospects for a group of EMs with macroeconomic vulnerabilities have clearly worsened.
March 10-11, 2014
Dubai, United Arab Emirates
Hosted by the DIFC, this program will address emerging challenges for MENA banks at a time of rapid globalization and a new regulatory environment; the deepening and diversification of financial markets in the MENA region, including through the development of capital markets; and the economic challenges facing countries undergoing political turmoil in the wake of the Arab Spring uprisings.
March 11-13, 2014
March 13, 2014
IIF Chief Economist for Asia/Pacific Dr. Bejoy Das Gupta discusses economic policies and prospects for Indonesia, including insights on the upcoming parliamentary and presidential elections. The call will take place at 9:00 AM EDT.
March 14, 2014
IIF Executive Managing Director Hung Tran presents the key highlights of the March Capital Markets Monitor (CMM) and takes questions from participants. The call will take place at 9:00 AM EST.
March 29, 2014
Costa do Sauípe, Bahia, Brazil
This year’s Forum, sponsored by CAF, will focus on the performance of the region in the face of the ongoing rebalancing of the global economy and policy challenges to strengthen macroeconomic resilience and competitiveness.
April 13, 2014
Organized by IIF under the auspices of the Group of Trustees of the Principles for Stable Capital Flows and Fair Debt Restructuring, and sponsored by Greylock Capital Management, the focus of this year’s Roundtable sessions will be ongoing major policy issues related to sovereign debt crisis prevention and resolution that dominate the public debate.
April 28-30, 2014
London, United Kingdom
This three-day program starts with a broad overview of risk management as applied to treasury operations against the backdrop of current macroeconomic and regulatory developments in the industry. Then leading financial institutions will share the latest sound practices to arm participants with key insights in fund transfer pricing, capital management, and liquidity risk management.
May 19-20, 2014
June 4-6, 2014
Join us at the 2014 IIF Spring Membership Meeting which will be attended by an influential audience of the world’s leading bankers, investors, insurers, and policymakers.
London, United Kingdom