Emerging market debt sales stall amid Iran conflict
Record emerging market debt sales have stalled as the Iran war raises borrowing costs. Investors pulled billions from assets while Angola remains an exception.
A record-breaking start to the year for emerging-market debt issuance has come to a sudden halt as the escalating conflict involving Iran destabilizes global markets and drives up borrowing costs. This shift has left several developing nations in a state of financial uncertainty, reversing the momentum of a period that had previously seen robust demand despite geopolitical tensions.
While most issuers have stepped back, Angola[country:\{ value:\"AO\" \}] managed to raise funds this month, benefiting from a surge in crude oil prices. Victor Mourad, the CEEMEA co-head of debt financing at Citigroup Inc., noted that while market access remains for established issuers, it now requires a significant premium.
