Emerging Markets Credit Risk Highlights

A selection of Moody’s latest comparative insights on global emerging market research. For a complete list of EM reports on Moodys.com click here.


EM Financial Conditions Monitor – June 2023: EM financial conditions remain tight, albeit with some light on the horizon

21 June 2023

US growth has so far proven resilient to continued monetary tightening. Further out, our base case includes a weakening US economy in the second half of the year, but if continued strong data pressures the Fed to keep hiking, the risk of a sharper slowdown will rise. Global financial conditions will continue to challenge the macroeconomic trajectory of emerging markets (EM) primarily via higher borrowing costs and tighter lending conditions, adding to their domestic challenges.

Moody's Investors Service

Global Emerging Markets Chartbook

13 December 2022

Despite signs of improvement, credit stress indicators are still above long-term averages across non-investment-grade EM sovereigns and nonfinancial companies.