Esteves’ exit fails to slow outflows; oil and gas exposure in spotlight.

Arrests, disappearances and suicides rock industry; investor unease at hard-nosed Beijing.

A Euromoney survey of economists and strategists paints a bleak picture of the emerging markets in 2016. They are now seen as a risk to global growth just when the developed markets start a modest recovery. On the positive side respondents reckon EMs will comfortably absorb the impact of US rate hikes and think another eurozone debt crisis is unlikely.

Euromoney Country Risk calls the shots on credit rating actions.

While irked by western dominance of Swift and determined to assert its monetary independence, the prospect of Russia going it alone on payments and messaging remains remote.

Of all the frontier markets competing for inward investment, the one-party state is still one of the more attractive prospects.

Cristina Fernández de Kirchner has left a toxic legacy for newly elected president Mauricio Macri. Asset prices were buoyed by his election victory the mid-term outlook for the Argentine economy is brimming with potential, but he must get through the next six months unscathed and consolidate a weak political base.

Low levels of credit offer opportunity; short-term funding presents operational risks.

The likelihood of fresh elections is delaying the structural reforms necessary to prevent the debt burden from snowballing.

Indian financial group eyes $300mln benchmark; liquidity, withholding taxes to moderate supply.

Depressed oil prices are sending shockwaves through the Kingdom as it looks at ways to mitigate the macro-fiscal implications.

Chastened by the 2012 volatility, Reserve Bank of India officials strike a cautious note about the virtues of rupee internationalization, as efforts to launch several offshore rupee bond issues gather pace. Market participants warn that liquidity and exchange-rate risk looms large on attempts to push greater usage of the currency abroad.

A year ago, we at Euromoney marvelled at the near perennial progression of personages passing through the portals of Bucharest’s finance ministry in the 25 years since Romania’s tyrannical Nicolae Ceaucescu was toppled: 21 finance ministers since 1989.

Pricing slashed as emerging market IPOs struggle; political in-fighting ‘threatens Georgia’s reform record’.

Commercial Bank of Dubai pays up; Gulf Investment Corporation cancels deal.

Meek year-end further weakens annual total; euro deal resurgence brings some cheer.

Record low yields for sovereign’s recent deals; slowing economy, deteriorating fundamentals.

Gao urges SOE defaults; financial reform should precede capital liberalization.

Bank cuts business in five countries; Brazil spared but offering diminished.

Dollar dominance continues; RMB inclusion in IMF reserve basket symbolic.

New Asia lender caps lending at $100 billion; dollars, not RMB, will fund projects.

ECM re-emerges from lengthy slump; foreign investors jump on slew of mid-sized IPOs.

Euromoney Country Risk experts believe drastic change is in the pipeline for Argentina — but its newly elected government has a fight on its hands to push through economic reforms.

Low oil price no bar to expansion; international business up 13% year-on-year.

What are the biggest risks facing sovereign credit in 2016? US rate hikes? A crisis in China? Another commodity shock?

China is pushing ahead with capital account reforms but it needs to make sure its own house is in order first.

It might not have been a big player in Latin America, but Deutsche Bank had a reputation for sticking through the hard times.

Impressive growth could stall if dynamic local businesses don’t benefit from an opening up of the banking sector.

Proposed privatizations in central and eastern Europe need to be viewed with scepticism, as they have a habit of disappointing.

In Adel Al-Ghamdi, Saudi Arabia had an impressive cheerleader for its plans to open up its stock exchange to foreign investors, who warmed to his open, engaging style. So why did he suddenly resign?