China experienced unprecedented portfolio outflows in 2022H1, … that started right when war in Ukraine broke out and persisted. Our trackers ...

Peru’s current account deficit printed above 5% of GDP in Q1, … but we think the underlying external position is still quite healthy. ...

We update our database of foreign flows to local-currency govies, … where heterogeneity across EM is substantial since covid began. Major E...

EM ex China outflows since the war began are not unprecedented. In contrast, outflows from China in Q1 were the largest on record, … and w...

Argentina’s new program rolls over existing IMF credit, … and doesn’t start amortizing in big amounts until 2027. Rebuilding s...

Local banks funded large EM fiscal deficits in the covid crisis, … at a time when foreign investors pulled out of the local market. Local b...

Very large sums are due to the IMF in the next two years, … making a new IMF program unavoidable by next March. We do not think that rollin...