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May 18, 2021
BUSINESS

Romania among countries with best progress on debt risk

Romania and Ukraine are among the countries boasting the healthiest reduction in credit default swap (CDS) in the past three months, while Greece, Ireland and Spain have done worst Mediafax reports.
Thus, the CDS index for Romanian debt dropped by 0.215 per cent in the past three months, at 2.955 pc, while, in Ukraine’s case, it slumped by 0.375 per cent, at 4.475 pc, according to figures supplied by the financial market monitoring firm CMA. The insurance cost for a USD 10 M-debt in Romania dropped by USD 21,500, at USD 295,500.


Investors avoid the debts of states like Spain and Portugal, as austerity measures adopted by the authorities do not offer security-holders the certainty the said states can pay their debts.


The bonds issued by Western European states are, for the first time, less secure than those of emergent states, in the context in which countries in the euro zone will need EUR 1,100 worth of financing this year.
The CDS index for the CEEMEA (Central and Eastern Europe, Middle East and Asia) region ebbed by 0.11 per cent, since its launch in January, while the index for Western Europe rose by 1.29 per cent, at 2.13 pc. The International Monetary Fund estimates that emergent economies in Europe will grow by 3.1 per cent this year, double the 1.5 per cent growth forecasted for the euro zone.

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