LatAm External Issuance to Decline

LatAm External Issuance to Decline

Caribbean Economy & Policy Corporate & Sovereign Strategy

External bond issuance is likely to decline to below $12bn this year, according to Moody’s. The ratings agency says the financing needs of LatAm and Caribbean sovereigns will total an estimated $384bn in 2011, down from $410bn in 2010. Sovereigns will need to finance an average of 5.8% of GDP in 2011, down from 9.2% in 2009. The decline is mainly due to an increase in nominal GDP, and Moody's expects continued economic growth and moderate fiscal results, which bodes well for future levels of fin

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