
What Has Changed in EM
- India Prime Minister Modi is boosting fiscal stimulus ahead of general elections due by May
- Indian officials appear to be withholding economic data that is harmful to the government
- Pakistan central bank unexpectedly hiked rates
- Russia central bank may be tilting dovish
- Argentina central bank will increase its USD purchases when the peso trades below the target range
- Fitch downgraded PEMEX two notches to BBB- with a negative outlook