Corporate Communications

VTB Capital becomes Full Member of Trade Association for the Emerging Markets (EMTA)

29 January 2010

Full Membership will enable VTB Capital employees to join hundreds of EM professionals at EMTA industry events, participate in the decision-making process that sets market practices and influences the EM industry policies, etc. Currently, among Full Members of EMTA are the world’s leading financial organizations, including UBS, Goldman Sachs, Credit Suisse, etc.

VTB Capital took part in the EMTA Corporate Bond Forum on January 26, 2010 in London, an annual conference which has become a must for EM credit investors. This year the participants addressed a number of critical issues, such as lingering default risks in EM in the aftermath of the Dubai World incident and the impact of global crisis on credit market dynamics.

Ivan Ivanchenko, Head of Strategy at VTB Capital, one of the speakers at the Forum: “Despite signs of global economic recovery, many governments have stretched their fiscal positions shoring up falling financial systems and stimulating the economies out of recession. As a result sovereign credit concerns take the front stage this year with Greece being a case in point. The US dollar remains the strongest currency in the world and the world's reserve currency. Timely Fed's action to address inflationary pressures will help ease concerns over the escalating value of the dollar. The uptrend started in December last year will likely continue into this year. As such 2010 has all chances to become a year of a dollar comeback after a nearly decade-long slide. On the other hand, China has already started monetary policy tightening to address overheating concerns. If China will start slowing this year we may see even sharper risk aversion in the markets.”

Background:
EMTA (www.emta.org) is the industry association for companies working on the Emerging markets (EM), focusing on development of efficient and transparent trading market instruments (bonds, loans, derivatives, FX). One of the main goals of EMTA is to help to integrate EM into the global capital markets.


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