Rate and Commodity Movements Threaten Sovereigns

Rate and Commodity Movements Threaten Sovereigns

Bonds Corporate & Sovereign Strategy

The potential combination of lower commodity prices and higher borrowing costs threatens what has been a mostly complacent debt picture for sovereign borrowers, Lee Buchheit, partner at Cleary Gottlieb Steen & Hamilton, tells LatinFinance. “The strains on EM will begin to appear in the next two years. They have been plastered over by these benign macroeconomic phenomena. The dearth of restructuring over the last five years in emerging markets generally has been a happy product of historically lo

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