Gareth Gore is an associate editor at IFR, where he heads the global people and markets coverage. Since joining the magazine in 2009, he has written extensively on the eurozone crisis, sovereign debt, banking regulation and the international capital markets. He previously worked as a Madrid-based correspondent for Bloomberg, and has also worked for Risk magazine.
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Emerging market borrowers are becoming less and less reliant on foreign money, with an increasing number of borrowers turning to local finance – be it bank loans or domestic bond issuance – to fund operations and growth.
It’s been a busy few weeks for corporate bond bankers, with a rush of deals flooding the market, setting 2016 up to be a record year. At US$3.3trn, global issuance in the year to-date is higher than ever before; barring a market upset, this year should beat the 2014 record of US$4.3trn.
Greece is hoping to lure back some of the €120bn that nervous depositors have pulled out of their bank accounts over the past few years through the creation of so-called “new money” accounts that will not be subject to capital controls.