Brazil, Egypt, Indonesia Struggle to Secure Growth amid Political Turmoil

The political turmoil that fueled the biggest selloff for emerging market stocks and currencies is likely to continue throughout 2017.

The corruption scandal in Brazil involving incumbent President Michel Temer has sent the nation’s currency tumbling the most in almost two decades on Thursday, dragging other assets down with it.

Moreover, Egypt is due to issue a Eurobond this week as the country struggles with a dollar shortage. Egypt’s interest rates jumped unexpectedly on Sunday in an effort to contain one of the highest inflation rates across emerging markets.

Further, Indonesian assets are poised to extend gains after S&P Global Ratings raised the country’s debt to investment grade.

In other developments, central banks in South Africa, Nigeria, Ghana, Thailand, South Korea, Ukraine, Hungary and Colombia are to establish new monetary policies.

Read more at Bloomberg.