Egypt falls one position in Bloomberg’s EM scorecard
Egypt falls one notch on Bloomberg’s EM scorecard: Egypt fell by one ranking to 17th place in Bloomberg’s biannual scorecard of 21 emerging market economies. The scorecard, which tracks economies that are either in the MSCI Emerging Markets Index or a Bloomberg Barclays measure tracking EM local-currency government bonds, assigns rankings based on metrics including growth prospects, the state of the current account, sovereign credit ratings and stock and bond valuations.
The big EM winners: Asian economies fare the best of the 21 with the best buffers against rising US interest rates. China and the Philippines are among top-ranked, but Malaysia held to its top position.
The losers: Perhaps unsurprisingly, the biggest loser on the list has to be Turkey, which dropped to the bottom of the table. “Turkey’s economy is forecast to grow 0.8% in 2019, down from an estimated 3.5% this year,” according to a Bloomberg survey of economists. South Africa also lags, placing second-to-last.