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First Republic plunges on deposit flight and credit rating hit
Fund’s board backs package weeks after Beijing drops resistance
Fund says agreement paves way towards $2.9bn rescue package
Remarks signal borrowing costs set to remain higher for longer than investors are pricing in
India’s finance minister would not say whether her country was among the nations that backed the criticism
Critics, including Janet Yellen, say Beijing’s bilateral lending comes at the rest of the world’s expense
Institute of International Finance reports debt burdens for large low- and middle-income countries are at record highs
Departure of David Malpass spurs charities and NGOs to step up efforts to reform multilateral lender
Economists say more countries likely to follow Egypt, Pakistan and Lebanon in letting currencies weaken
Experts are divided over whether developing economies represent potential value
More than $1bn has flowed into stocks and bonds every day this week in strong start to 2023
If economy falters, Lula might be less willing or able to take measures to balance the country’s books
Officials say worst-case projections in summer 2022 are now their baseline scenario
Bets on slower Federal Reserve rate rises stoke ‘increasing enthusiasm’ over asset class
Indermit Gill says existing framework offers developing countries ‘too little, too late’
Highly indebted African nation is facing a ‘major economic and financial crisis’
Analysts caution however that developing countries would not automatically be able to start cutting interest rates
Higher interest rates and slump in currencies raise debt servicing costs by more than a third
Investors are keeping a close eye on areas ranging from US Treasury market illiquidity to Japanese government debt
Wipeout presents ‘exciting’ opportunities for Morgan Stanley but Goldman casts doubt on recovery
Analysts predict greater recovery potential than for developed economies if inflation and interest rates stabilise
In some policy areas, the two candidates are not dissimilar but in other respects, they are oceans apart
Crisis-hit Colombo needs commitments from big lenders to unlock IMF rescue package
Bank’s decision follows investor concerns over country’s market infrastructure
Investors head for exit as rising rates in big economies and strong dollar hit sentiment
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