Credit Currents - Moody's Ratings

Credit Currents - Moody's Ratings

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Credit Currents - Moody's Ratings episodes

  • China’s push to shift economic growth engines faces hurdles but will benefit some EMs

    It will take time and effort for sectors like tech and EVs to drive China’s GDP growth, and geopolitics is a risk. But emerging markets supplying relevant goods and services to China stand to benefit.

    Guest: Gong Cheng, Managing Director - Credit Strategy, Moody's Ratings

    Host: Vittoria Zoli, Analyst - Emerging Markets, Moody's Ratings

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    16 min
  • Digging into key credit stories for emerging market sovereign investors across the globe

    China’s 2024 policy priorities and influence across Asia, the state of European consumers, Romania’s fiscal deficit, Argentina’s economy and Ecuador’s state of emergency are among the top stories.

    Guests: Lillian Li, Vice President – Senior Credit Officer, Moody’s Ratings; Ruosha Li, Vice President – Senior Analyst, Moody’s Ratings; Ariane Ortiz-Bollin, Vice President – Senior Credit Officer, Moody’s Ratings

    Host: Scott Phillips, Associate Managing Director – Emerging Markets, Moody’s Ratings

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    21 min
  • A focus on West Africa, where bright spots shine through political, security and climate risks

    Positive developments include strong GDP growth in Côte d’Ivoire and Senegal, a lifting of sanctions on Niger, and a few countries tapping international bond markets so far this year.

    Speaker: Mickaël Gondrand, Assistant Vice President-Analyst, Sovereign Risk Group, Moody’s Investors Service

    Host: Scott Phillips, Associate Managing Director, Emerging Markets, Moody's Investors Service

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    16 min
  • State-contingent debt instruments gain traction in restructurings as sovereign defaults rise

    These instruments provide flexibility on debt-service payments and can help bridge differences in restructuring talks. Protracted talks delay critical structural reforms and increase default risk.  

    Guest: David Rogovic, Vice President – Senior Credit Officer, Sovereign Risk Group, Moody’s Investors Service

    Host: Scott Phillips, Associate Managing Director, Emerging Markets, Moody’s Investors Service

    Related Research:

    • State-contingent debt instruments can aid debt restructuring, but can carry fiscal risks

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    15 min
  • Emerging market central banks lower rates while US Fed signals rate cuts are not imminent

    Recent interest rate cuts in Brazil, Chile, Colombia and Hungary are among the signs that EM financial conditions are improving. The primary market for EM bond issuance is likely to remain strong.

    Hosts: Scott Phillips, Associate Managing Director - Emerging Markets at Moody's Investors Service; Vittoria Zoli, Analyst - Emerging Markets at Moody's Investors Service

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    13 min
  • Middle East, North Africa credit conditions are stable in 2024 despite elevated geopolitical risks

    Conditions are more stable for sovereigns, banks and companies in the Gulf Cooperation Council region than in North Africa and Levant. An escalation of the Israel-Hamas military conflict is main risk.

    Speakers: Christian Fang, Vice President – Senior Analyst, Sovereign Risk Group at Moody’s Investors Service; Badis Shubailat, Assistant Vice President – Analyst, Financial Institutions Group at Moody’s Investors Service; Rehan Akbar, Senior Vice President, Corporate Finance Group at Moody’s Investors Service

    Host: Vittoria Zoli, Analyst, Emerging Markets at Moody’s Investors Service

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    17 min
  • Five top-of-mind credit stories for EM sovereign investors in 2024

    Redefault risk in Argentina, general elections in South Africa, financial conditions and debt affordability in Egypt, monetary policy in Turkiye and economic growth in China are top stories this year.

    Speaker: Marie Diron, Managing Director - Global Sovereign Risk - Moody's Investors Service

    Host: Scott Phillips, Associate Managing Director - Emerging Markets, Moody's Investors Service

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    18 min
  • COP28 climate summit highlights carbon transition risks for emerging markets

    Carbon transition, adaptation to climate change and climate finance – core topics at COP28 – are crucial for EMs because of their exposure to environmental risks and limited capacity to respond.

    Speakers: Rebecca Karnovitz, VP-SCO – ESG Research & Outreach at Moody’s Investors Service; Matt Kuchtyak, VP-Sustainable Finance at Moody’s Investors Service

    Host: Natasha Brereton-Fukui, SVP-Global ESG Research at Moody’s Investors Service

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    21 min
  • Economic considerations underpin stable emerging market 2024 outlook

    EM GDP growth will slow, largely because of China’s slowdown. Export-led EMs will suffer from weak global trade activity, but domestic-focused EMs will fare better. Pockets of inflation risk exist.

    Speaker: Vittoria Zoli, Analyst - Emerging Markets, Moody's Investors Service

    Host: Scott Phillips, Associate Managing Director - Emerging Markets, Moody's Investors Service

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    16 min
  • Emerging market central banks reassess pace of monetary easing as US Fed holds rates for longer

    Continued high US interest rates, strong US dollar and possible rise in commodity prices mean EM central banks are likely to recalibrate the pace, if not the depth, of their interest rate cuts.

    Speaker: Vittoria Zoli, Analyst - Emerging Markets, Moody's Investors Service

    Host: Scott Phillips, Associate Managing Director - Emerging Markets, Moody's Investors Service

    Related research:

    • Federal Reserve on hold for longer implies slower pivot to policy easing for some EMs

    © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.


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    13 min

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Join Moody’s Ratings’ analysts every other Thursday as they break down the biggest stories in credit and why they matter.