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Emerging Markets – Global

Pandemic will leave lasting scars on credit quality despite tentative recovery

Higher quality issuers, particularly in emerging Asia, will navigate 2021 fairly well, supported by strong economic or industry positions and healthy access to capital. But smaller governments and companies that have concentrated revenue streams or significant external funding requirements will endure another year of liquidity and, potentially, solvency stress.
Rahul Ghosh
Senior Vice President - Credit Strategy & Research, Moody's Investors Service
Moody's Investors Service


Six themes that will shape emerging markets credit in 2021

Find out more on our themes

Podcast - Outlooks Connections Episode 2

Credit conditions will be mixed across emerging markets amid uneven COVID-19 recovery

Analysts Sarah Carlson, Eugene Tarzimanov and Carolina Chimenti discuss the 2021 credit outlook for sovereigns, banks and companies across emerging market countries. The wide-ranging effects of the coronavirus will continue to be a dominant credit theme, along with still-weak tourism prospects, low oil prices and the rollback of forbearance and fiscal support in a number of countries.

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19 Nov

Virtual Event Thursday, November 19 | 10:00 EST | 15:00 GMT

2021 Emerging Markets Credit Outlook

How quickly will global and emerging market economies recover? Will financial conditions remain supportive? Will emerging market credit fundamentals stabilize? Join us as we hear from Dr. Mohamed El-Erian and senior Moody’s analysts on emerging and frontier markets' credit prospects.

Dr. Mohamed El-Erian, President, Queens' College, Cambridge and Chief Economic Adviser, Allianz