NEW YORK, Dec 9 (Reuters) – Saruul Ganbaatar, the deputy
head of Mongolia’s stock exchange, hopes the country’s days of
interventionist economic policies are over and new laws ensuring
foreign investors’ access to the frontier market’s industries
will bring back sorely needed cash.
In mid-2012, Mongolia rushed into law restrictions on
foreign ownership of strategic sectors such as mining,
telecommunications and banking. The government hastily created
the legislation to block Chinese state-owned Aluminum Corp of
China (Chalco) from gaining a controlling stake in
Mongolia-focused coal miner SouthGobi Resources.
#EMTA Vera: Venny is a lousy story. Never seen it so bad. Devaluation likely after election. Ukraine’s Yanukovich playing dangerous game.
#EMTA Millennium’s Vera: Argy overhyped. Don’t see change in thinking on policy. If going to be there then be in local debt.
#EMTA NWI’s Hariharan – locals in Brazil in complete panic mode. Usually a great signal to buy Brazil.
#EMTA annual meeting. Discussion about credit growth, U.S. tapering impact on EM. Not much concern among panel 1 on liquidity dry up.
NEW YORK, Nov 22 (Reuters) – Emerging market credit default
swap contract trading volume rose 39 percent to $297 billion in
the third quarter of this year versus the same period in 2012,
according to data released on Friday by EMTA, the trade
association for the emerging markets.
CDS act as a kind of insurance for investors who own debt,
in this case debt issued by sovereign nations, against potential
default or restructuring.