A new generation of sovereign wealth funds – from resource-rich economies in Africa and Latin America – has emerged over the past few years. While these new funds are still relatively small, their impact could be sizable if they enable their source countries to secure stable economic growth and mitigate future risks associated with the booms and busts of the commodity cycle.
Latest articles from Politics & Economics
Turkey has set itself some ambitious targets for the next 10 years, not least wanting to become one of the world's 10 largest economies. There are a number of obstacles that it must overcome first, however, with a significant savings gap, a deep current account deficit and a poor record in attracting foreign direct investment.
Closer economic integration of countries in the Commonwealth of Independent States has been discussed for many years without practical progress. The launch of a Single Economic Space between Russia, Kazakhstan and Belarus may be about to change that.
A sharp increase in provisioning requirements is likely to drive consolidation in the Spanish banking sector. But the country's largest banks – many of which have remained profitable thanks to their operations in other regions – are cautious about what may lurk on the balance sheets of the troubled savings banks.
High non-performing loan ratios and stringent, ever-changing government policies have put foreign-owned banks in Hungary under pressure. As established players change their footing, allocating a larger proportion of their funds abroad, a number of smaller local outfits are moving in to capitalise on the potential of niche markets.
Indonesia’s finance minister Agus Martowardojo was The Banker’s Finance Minister of the Year 2012, global and Asia-Pacific. He explains the economic polices behind the country's impressive growth.
Keeping Greece in and allowing massive European Central Bank intervention are the best ingredients for saving the eurozone. But the case for common eurozone bonds is less clear.
From sovereign debt woes to political brinkmanship and the swathe of new regulations hitting banks, the events of 2011 have reverberated across markets and around the world. There have been a few bright spots, not least the growing confidence of local currency debt markets, but overall it has been a gloomy year. Most believe the fate of 2012 lies in the hands of European policy-makers.
Many of Azerbaijan's banks were hit by economic slowdown and falling real estate valuations in 2010, and there are signs that a significant shake-up of the sector is beginning.
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