Kleiman International @KleimanIntCon

Global Emerging Economy/Financial Market 30-yr Analysts; Original Full-Range Investment/Development Consulting @georgetownsfs program, refugee adviser; @FT kleimaninternational.com Washington, DC Joined April 2020

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Kleiman International @KleimanIntCon

28 minutes ago

#Colombia's $5.4 billion total return swap with 6 banks to cut financing costs was the topic we discussed with @LatinFinance's @HernanGoicochea. Bond issue unlikely likely as investors eyeing massive deficit ~7.5%+ of GDP this year in advance of election. latinfinance.com/daily-brief/20…

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Kleiman International @KleimanIntCon

22 hours ago

#Algeria stock index 6 co flat 8 mo. Prez Tebboune 2nd term yr mark, $1 billion iron/steel, railway project, #Qatar $3.5 venture irrigation-livestock food security. Zinc-lead mine #Australia partner, foreign majority own new law. #Libya debate currency float. #EmergingMarkets

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Kleiman International @KleimanIntCon

23 hours ago

#SaudiArabia stock index -12% YTD. Bank lend +10% mortgage boom, bad loan 1.5% this yr. LDR 80%, monetary authority repo liquidity. #UAE GDP +4%, non-oil +5% 3/4 total peak Q1. Finance-insurance 15% contribute. #Qatar market listed co earn +4% to $3.5 billion Q2. #EmergingMarkets

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Kleiman International @KleimanIntCon

23 hours ago

#Iran-#Turkey trade $3 billion -4% 7 mo, Ankara $400 million surplus. Last yr $7 total, joint free zone. Prez meet Shanghai body, anti-sanction local currency use endorse. Tehran intl stock exchange project neighbor access, decade freeze #SouthAfrica telecom asset #EmergingMarkts

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Kleiman International @KleimanIntCon

23 hours ago

#Bangladesh taka +1%/$ 8 mo. Cenbank FX reserve $31 billion 5 mo import, past mo $1 buy, $40 buildup aim election Feb next yr. Arrear cleanup $4 billion, power co @AdaniOnline owe. Aug PMI -3 to 58, -agriculture/construction. Dengue fever outbreak 35000 case. #EmergingMarkets

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Kleiman International @KleimanIntCon

23 hours ago

#Senegal frontier stock index +18% 8 mo. Prez Sonko cabinet remake, new JusticeMin fast prosecute predecessor public finance mislead. Debt/GDP > 100% before latter rebase, IMF restructure avoid region market implicate. July trade deficit -1/3 mo, +80% oil export. #EmergingMarkts

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Kleiman International @KleimanIntCon

23 hours ago

#Morocco frontier stock index +50%,top tier 8 mo. Large weight 15%, June equity futures launch kleimaninternational.substack.com/p/frontier-ind…. Past 5 yr lead 10 country greenfield FDI $40 billion, 25 yr EU free trade, $8 billion auto assemble continent export champ #China invest. #EmergingMarkets

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Kleiman International @KleimanIntCon

24 hours ago

#SriLanka FX/govt bond return 7% 8 mo. Prz AKD 1 yr office GDP +3%, poverty 2x post-covid to 1/4 population economist.com/asia/2025/09/0…. Predecessor Wickremesinghe arrest fund embezzle, opposition lead ex-Prez Rajapaska family. Tax collect post default 2x to 14%/GDP. #EmergingMarkets

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Kleiman International @KleimanIntCon

a day ago

#Russia stock index +25% 8 mo. Budget hole H1 2%, 4x target, non-military -$2.5 billion spend react. Non-hydrocarbon revenue +15%, July < 9% inflation. VTB bank provision 1/4 corp loan. #Ukraine 8 mo budget intake UAH 2.5, outlay 3.2 trillion, each +1/4 last yr. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Jamaica frontier stock index -7% 8 mo. PM Holness Labor party 3rd term triumph, +5 seat opposition. Platform -10% income tax to 15% rate, 2x minimum wage to $200/mo. Debt/GDP 60%, 5% primary surplus, jobless 3% record. US 50% aluminum tariff, last yr recession. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Poland zloty +15%/$ 8 mo. Rating A- stable to negative, last downgrade decade ago. Budget shortfall ~7% defense/social spend, public debt/GDP near 55%/GDP legal ceiling. Prez-govt coalition standoff, next parliament poll 2027. #Romania retail sale +1/3% July. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Vietnam FX/T-bill 3% loss 8 mo, frontier worst kleimaninternational.substack.com/p/frontier-ind…. Govt bond $9 billion 8 mo, < 1/2 full yr goal, social security-insurer 2/3-bank 1/3 hold. Corp bond +1/2 to VND 325 trillion, 90% bank-property name, individual investor -10% to 20% own. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Ecuador 2035 bond 75, end yr $400 million official guarantee external issue. Budget hole 8 mo 1.5%/GDP 3x last yr, US migrant deport-military base cooperate, #China bilateral debt reset. #Bolivia $170 million liquid FX reserve, $55 Eurobond coupon Sept. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Nigeria FX/govt bond return 20% 8 mo. Aug FX reserve $40 billion, Q1 foreign capital inflow $5.5 +2/3 last yr. Portfolio invest >90%, $4 billion money market,$900 million bond/$100 equity. FDI bottom rank $125 million, 2%/total. #Ethiopia $4 billion dam finish. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Angola 2028 bond high 90s, +5% 8 mo. Nov $850 million sovereign repay, budget base $70/barrel oil 3% deficit IMF view. Debt/GDP 65%, inflation 30%, 5% current acct surplus. FX reserve $16 billion, 8 mo import. GDP +2%, 1 million b/d oil produce @OPEC leave. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Egypt FX/govt bond return 23% YTD. FY finish +4.5% GDP, record +2/3 remittance to $36 billion/July $18 FX inflow. Cenbank -200 bp rate to 22%, private sector 60%/investment, PMI ~50. #Tunisia Aug 5% inflation 4 yr best, HI -$1 billion current acct , 2%/GDP. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Iraq stock indx+4% Aug. Trade volume 3x/mo to $80 million 80% banks, hotel 4% dividend pay. Nov election PM Al-Sudani Reconstruct party, 2nd term vie. US occupy, 80% foreign debt cancel 2 decade mark kleimaninternational.substack.com/p/iraq-war-deb…. #Kuwait July $1 billion local bond. #EmergingMarkets

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Kleiman International @KleimanIntCon

2 days ago

#Ukraine FX/govt bond return 13% YTD. Aug UAH 70 billion securities trade, domestic debt 70%/USD denominate 5%, currency swap 25%/total. Foreign trade 8 mo $80 billion, $55 import-$25 export. Main sales food $15, metal/machine $3. #Poland-#Turkey lead $3 market.#EmergingMarkets

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Kleiman International @KleimanIntCon

3 days ago

#EmergingMarkets our 10 yr crystal ball gaze/book plug @IntlEconomy latest issue expert survey international-economy.com/TIE_Sp25_Futur…. Last p.22 decade ahead no more #Zambia-#SriLanka type G20 delay. Fast full voluntary sovereign debt workout Global South led advisory fix, #ESG swap standard.