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Country Risk: In search of a safe haven

Oman has recently opened the first interbank repo market in the Gulf and East African region. One of the quietest success stories in the world, this small Gulf country is helping to ensure future growth by the establishment of a modern financial and banking system.

A slowdown in domestic economic growth and meltdown in Russia and Brazil have put pressure on financial institutions across the Andean region. Justine Newsome examines what it will take for the banks to survive the storm.

Merrill Lynch Mercury Asset Management reports that UK FTSE 350 companies, excluding banks, are sitting on £65 billion ($108 billion) of cash, most of it placed on deposit in the interbank market. It further estimates that European corporations, insurance companies and pension funds are together rolling over some $561 billion of liquidity, mainly through interbank deposits. Corporates account for some 70% of that liquidity. These companies haggle with their banks to cut liability costs by a few basis points. They should ask themselves whether they are also earning a competitive return on their cash assets.

How best to track performance in the European bond markets is hotly debated by the region's bond-trading firms. There will be rich rewards for the index compilers that come out on top in euroland. But defining the market to meet investors' needs is proving a challenge. Peter Lee reports.

Euromoney received replies from 32 economists at leading financial and economic institutions. They gave each country's economic performance for 1999 and 2000 a score out of 100. The world's fastest-growing, best-performing economy in an ideal year would score 100; the worst economy in a disastrous year would score zero. Respondents were asked to consider economic growth, monetary stability, current-account balance, budget balance, unemployment and structural imbalances. Economists also gave GNP growth forecasts for 1999 and 2000. Countries which received no votes are excluded from this table.

Portuguese Banking: Carving out a new role

Portuguese Banking: Carving out a new role

Portuguese Banking: Carving out a new role

Euroland Municipal Bonds: New city states

Euroland Municipal Bonds: New city states

Euroland Municipal Bonds: New city states