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.

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.
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