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Emerging markets debt: Clouds of political uncertainty set to lift

30 March 2023 |
Active ESG
After a positive start to 2023, emerging market debt investors should keep an eye on four key elections this year, which may create further opportunities in the asset class.
EMD Q1 2023 report

Fast reading

  • In February, Bola Tinubu was declared the winner of Nigeria’s closely contested election. While the president-elect faces a range of economic challenges, improvements in Nigeria’s external accounts from the opening of the Dangote oil refinery provide cause for optimism.
  • Parliamentary and presidential elections are scheduled to take place in Turkey on 14 May, as longstanding President Recep Tayyip Erdogan grapples with an economic crisis. Policymakers have set about pump-priming the economy ahead of the vote.
  • General elections in Pakistan are due no later than October, which will put a spotlight on the country’s huge deal with the IMF and China’s influence on the government. Argentina, meanwhile, looks poised to elect a more market-friendly leader in October.

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EMD Q1 2023 report

EMD Q1 2023 report

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