Institute of International Finance

The Institute of International Finance is the global association of the financial industry, with close to 450 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.

Global Macro Views: Nothing Idiosyncratic about the EM Malaise

Markets spent 2018 debating if Turkey and Argentina are idiosyncratic, and the same debate is playing out now given the recent market sell-off. Our daily tracking of real money flows highlights broad-based weakness, where we see the EM positioning overhang as one underlying theme.

Sustainable Finance in Focus: Green Loans—Kickoff Time!

The green loan market is still a niche but growing fast: gross issuance hit $60 billion in 2018—up by 30% from 2017  

Frontier Markets Debt Monitor: Too much, too fast?

Frontier market debt rose by over $250 billion in 2018, reaching $3.2 trillion for the 26 countries in our sample. Zambia, Vietnam, and Tunisia saw the largest rise in debt ratios.

Weekly Insight: Winds of Change

EM assets have enjoyed tailwinds—more dovish Fed/ECB, better growth prospects, attractive valuations... but recent dollar strength and higher oil prices highlight risks ahead; Non-financial corporate EM FX debt up by over $2 trillion since 2009, pushing total EM FX debt to $5.3 trillion; High levels of dollarization reflect declining consumer confidence in Turkey and Argentina

In our first episode of All About the Green, Neil Gregory (IFC) and Sonja Gibbs (IIF) discuss the recently launched “Operating Principles for Impact Management” and share their thoughts on the criticality of impact investments, how they relate to the UN Sustainable Development Goals (or SDGs), the differences between impact investing and other forms of responsible investing, as well as the importance of being able to measure impact within a robust investment framework.

April 2019 Capital Flows to Emerging Markets

Our best predictor of global growth has turned a lot more positive. Alongside the dovish Fed, this paints a positive picture for risk assets. Surprisingly, however, EM currencies have been quite a mixed bag, and our high frequency tracking of flows shows a mixed rebound in Q1. We believe the underlying issue is that investors are over-positioned, with a positioning overhang after a decade of loose G-3 monetary policy. We therefore upgrade our capital flows projection to EM only modestly, with non-resident flows of $1,260 bn in 2019, after $1,135 bn in 2018.

Crypto Course Correction

The crypto industry moves into the new year reshaped by a tumultuous 2018. Despite ongoing regulatory and technical challenges, the underlying technology and crypto-based applications continue to move slowly towards mainstream adoption, as evidenced by recent private and official sector activity.

FRT Episode 32: 3D Printing & Trade’s New Paradigm

Nextrade Group Founder and CEO Kati Suominen visits FRT to discuss the new paradigm for international trade as it moves from goods to bytes, enabled by the maturing of 3D Printing, and with repercussions for trade finance (with Brad Carr).