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The Central Bank of Jordan has advanced deregulation of the country's banking sector considerably in recent years. According to Adel Satel, analyst at Moody's Investors Service: "Continued reforms in the financial sector have strengthened the banking system's capital base, and introduced additional prudential requirements and more transparency into the system." Roger Smithyes, general manager of Jordan International Bank London, says: "Overall, the sector is very well managed and very well controlled. It goes in line with the general view of Jordan."

Iran's economic liberalization programme has shown impressive results. But the victory of conservative forces in the latest elections threatens further progress. Meanwhile the country's banks are incapable of funding its corporations, which are turning instead to the capital markets.

You're a populist left-wing politician in South America. Your country's elite doesn't like you, and Wall Street is scathing. Your reputation could do with a bit of help. What do you do? Why, take out an advertisement in the New York press, of course. The trend started in July, when an advert appeared in the New York Times. "Argentina," it blared: "A responsible country, a responsible proposal". A list of the great and the good followed, attesting to Argentina's "sincere and realistic proposal to creditors" (see Argentina's creditors brace for lowball offer). U2's Bono, Mikhail Gorbachev and actors Emma Thompson and Viggo Mortensen were prominent.

Slovakia boasts the fastest growth rate in central and eastern Europe as it turns from regional laggard to leader. It has boosted growth, controlled government spending and attracted FDI with a tax policy some of its larger neighbours dislike. They won't intimidate finance minister Ivan Miklos.

The Shariah-compliant debt market has grown rapidly, with interest from issuers and investors outside as well as inside the Muslim world. The next development is likely to be more corporate issues using Islamic structures.

Azamat Joldasbekov, president and chief executive officer of the Kazakhstan Stock Exchange, spoke to Euromoney's Nick Kochan about the market's limitations and changes being made to extend the scope of its operations

The appointment of former deputy central bank governor Jammaz Al-Suhaimi as chairman of Saudi Arabia's Capital Markets Authority looks set to accelerate the liberalization and broadening of the kingdom's financial markets.

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Iraq and Argentina's debt problems will dominate this month's IMF/World Bank meetings, with the size of their liabilities casting doubt on the international financial system's ability to cope.

It's late on a Thursday night and the party cognoscenti are headed for one of Asia's slickest nightspots. From the exterior, f.bar, a bunker-like building with an unpromising squat black façade is guarded by serious-looking security personnel clad head to toe in matching black.

Coca-Cola Hellenic Bottling Company, Coca-Cola's second biggest bottler, had been buying back its outstanding debt on an ad hoc basis throughout 2003. ?We'd been mopping up bonds that came into the market with spare cash last year as we had been building up a lot of cash and had almost completely repaid commercial paper outstandings,? says John Fulton, group treasurer. But in 2004, the Athens-based company decided to do something bigger: to deal with liabilities that were soon to come due, extend its maturity profile and achieve a lower cost of funds.

Unlike nearly every other former Warsaw Pact country making the journey from central planning to a market economy, Russia has decided to shun the overtures of foreign banks and build up home-grown financing institutions instead.