Mark Sobel on Turkey, OMFIF at the IMF, and more

Markets, Reports — By on September 8, 2018 at 10:12 AM

Turkey’s president Recep Tayyip Erdoğan

OMFIF Update – Week 36 2018  3-7 September Vol.8 .Ed.36

COMMENTARY Four proposals to lower contagion

The international community needs to do a better job in guarding against financial market contagion.

The collapse of Turkish markets makes the question acute and relevant, writes Mark Sobel. Contagion will never be banished completely, but the world can step up efforts to make it less troublesome.

Read more.

 

NEWS Emerging markets: ‘Expect bumpy ride’ 

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Emerging market investors must get used to ‘a bumpy ride’ with much volatility, but there is little danger that pressures on Turkey and Argentina will spill over to unrest similar to the 1997-98 Asia crisis, according to David Marsh, OMFIF chairman, speaking at the Ashwamedh-Elara India dialogue in Mumbai.

Read more.

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COMMENTARY ‘Tokenisation’ of infrastructure assets

Private sector participation has been prescribed as a remedy for shortfalls in infrastructure funding. This solution requires a framework to make assets more tradable and palatable to investors.

The ‘tokenisation’ of assets through blockchain can play an important role, write Darius Sit and Mitchell Chan.

Read more.

MEETING OMFIF in Southeast Asia

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OMFIF and The OMFIF Foundation are organising a series of meetings in Southeast Asia during the week of the IMF-World Bank Group annual meetings between 8-11 October. The meetings convene representatives of central banks, sovereign funds, pension funds and private market participants from across the world

Read more.

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COMMENTARY Global policy-makers avoid Fed party

The list of policy-makers who did not attend the Jackson Hole symposium in August makes it look like Donald Trump imposed a tariff on central bankers entering the US, writes Darrell Delamaide.

As it was, Jay Powell held centre stage. His speech was hailed as a stirring defence of Fed independence.

Read more.

NEWS Trump missed opportunity against China

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Mark Sobel, OMFIF US chairman, discussed Donald Trump’s trade policies in an interview with Bloomberg: ‘Trump had a chance to form an alliance to try to put global pressure on China, but, given the ruptures with Europe, Canada and Mexico and pulling out of the TPP, I think he’s lost that opportunity.’

Watch the interview.

 

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PODCAST Islamic fintech – Part 1

Abdul Haseeb Basit, co-founder and principal of Elipses, and Umer Suleman, head of sharia governance and Islamic finance at Yielders, give an overview of Islamic fintech, including some of the key definitions and the ethical principles that underpin different products and services.

Listen to the podcast.

 

COMMENTARY Unity strengthening in Visegrád group

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Solidarity among the Visegrád group played a major role in the EU abandoning common allocation quotas for migrants, writes Miroslav Singer.

Opposition to these quotas is just one of the factors bolstering V4 unity and signalling the region’s continuing disassociation from western European politics.

Read more.

Danae Kyriakopoulou

NEWS ‘Italy still has weak fundamentals’

‘There is some credibility in Italy in economic policy, but there are still weak fundamentals in terms of non-performing loans, as well as the reform of the euro area and how that affects Italian banks,’ according to Danae Kyriakopoulou, OMFIF’s chief economist and head of research, speaking with Bloomberg.

Watch the interview.

COMMENTARY Developing economies face tantrums

Rio de Janeiro

 

Since April I can single out at least three different factors that have led to sudden bursts of fears among investors of losses in portfolios in individual emerging markets, writes Otaviano Canuto. Several countries have suffered the effects of ‘dollar tantrums’, ‘political tantrums’ and ‘trade tantrums’.

Read more.

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