Global credit rating agency Moody's Investors Service on Friday said that 2022 saw a spike in the annual sovereign bond defaults with seven countries defaulting on repayments. In 2023, there were two sovereign defaults - Argentina and Mozambique. In a report, Moody's said the year 2022 saw the highest number of defaults since 1983. "Seven sovereigns defaulted during the year, namely <keyword id="6360719" type="General" weightage="50" keywordseo="mali" source="Orion">Mali</keyword> (Caa2 stable), Russia (rating withdrawn), Sri Lanka (Ca stable), Belarus (Ca negative), El Salvador (Caa3 stable), Ukraine (Ca stable) and <keyword id="60252" type="General" weightage="50" keywordseo="ghana" source="Orion">Ghana</keyword> (Ca stable)," the report states. "The annual sovereign bond default rate jumped to nearly 5 per cent in 2022, more than five times the average default rate in 1983-2022. There have been two defaults, by the governments of Argentina (Ca stable) and Mozambique (Caa2 positive), in 2023 to date," Moody's said. As more emerging and frontier market sovereigns face credit stress amid a tightening monetary environment post-pandemic, the share of Caa-C-rated sovereigns has increased, said <keyword id="2552053" type="General" weightage="50" keywordseo="claire-li" source="Orion">Claire Li</keyword>, Vice President <keyword id="191571" type="General" weightage="50" keywordseo="senior-analyst" source="Orion">Senior Analyst</keyword>, Credit Strategy and Research. According to Li, a growing share of sovereign ratings at the lower end of the rating distribution signals elevated default risk. "Economies with significant financing requirements that are heavily dependent on external funding and holding a considerable amount of foreign currency-denominated public debt, with low foreign exchange reserves, are among the most vulnerable," she added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/nclt-grants-90-days-extension-to-future-retail-for-concluding-insolvency/articleshow/99489275.cms">NCLT grants 90 days extension to Future Retail for concluding insolvency</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/scientists-launch-juice-mission-to-explore-jupiters-icy-moons/articleshow/99489290.cms">Scientists launch JUICE mission to explore Jupiter's icy moons</a>

Highest sovereign defaults in 2022, two in 2023: Moody's

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/580764efc52402f8058b54a9-1024/gettyimages-495461972.jpg" border="0" alt="James Gorman" data-mce-source="Neilson Barnard/Getty Images" data-mce-caption="Chairman and CEO of Morgan Stanley James P. Gorman participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City." data-link="http://www.gettyimages.com/photos/james-gorman?family=editorial&amp;phrase=james%20gorman&amp;sort=best&amp;excludenudity=true#license" /><a href="http://www.gettyimages.com/photos/james-gorman?family=editorial&amp;phrase=james%20gorman&amp;sort=best&amp;excludenudity=true#license">Neilson Barnard/Getty Images</a>Chairman and CEO of Morgan Stanley James P. Gorman participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City.</div></div></div><ul class="summary-list"><li>Morgan Stanley just announced its 2019 managing director class. </li><li>145 employees were promoted to MD, 61% based in the Americas, according to an internal memo sent out Tuesday.</li><li>The bank promoted 153 MDs last year and 140 in 2017.</li></ul>Morgan Stanley just announced a class of 145 new managing directors - the highest rank at the bank and a coveted career milestone on Wall Street.An internal memo was sent out around late Tuesday afternoon announcing the hires, according to a person familiar with the matter. According to the memo, a portion of which was seen by Business Insider, 68% of the new MDs are in Institutional Securities, Investment Management, and Wealth Management.Other stats about the new class:<ul><li>By region: 61% of the promotes were based in the Americas, 26% in Europe, the Middle East, and Africa, and 13% in Asia.</li><li>There are 39 new female MDs (27%), compared with 40 last year (26%).</li><li>7% of the US class is Black, up from 5% in 2018, and 4% of the US class is Hispanic, up from 1% last year.</li></ul>Morgan Stanley <a href="https://www.businessinsider.com/morgan-stanley-announces-2018-managing-director-promotions-2018-1">promoted 153 MDs</a> last year and <a href="https://www.businessinsider.com/morgan-stanley-managing-directors-2017-1">140 in 2017</a>. Elsewhere on Wall Street, Bank of America Merrill Lynch <a href="https://www.businessinsider.com/bank-of-america-merrill-lynch-2018-internal-md-promotion-full-list-2018-11">promoted nearly 140 employees to MD</a> in late November, <a href="https://www.businessinsider.com/citigroup-promotes-125-to-managing-director-heres-the-full-list-2018-12">Citigroup promoted 125 MDs</a> in its Institutional Clients Group in December, and Barclays <a href="https://www.businessinsider.com/barclays-names-85-new-managing-directors-2018-12">promoted 85 MDs</a> a couple days later.At Goldman Sachs, where MD is one rung below the prestigious role of partner and the classes are announced every two years, 509 employees were promoted to MD in 2017 and 69 were promoted to partner <a href="https://www.businessinsider.com/goldman-sachs-new-partner-class-list-2018-2018-11">in November</a>.Here's the full list of employees who just got promoted to managing director at Morgan Stanley:Institutional EquityKeshiv DesaiSina El BiedAndrew FearnsideTaso GiannopoulosOllie HoeldinKeiko KawauchiPaul KondratkoRichard SmerinTyler SorbaJames Spencer-LavanMichelle StrattonNim WarshawskyEllen WeinsteinJenny Zupan ResearchMatthew HarrisonJames Lord Fixed IncomeAshwin AnandJordan BrinkQing ChenRichard CondonLucy DabinettMarcel De BoomAlexandre de LatourXu (Kurt) JianRodrigo JoligWilliam LeeLouis LiJohn McDonaldDerek MelvinGeoff ProulxAra TachdjianOlivier Treuer Investment BankingJaehoon AhnUsman AkramAlexandre BartolinGwen BillonThomas BimontLuis BrossierVipin ChhajerWinton de St John-PryceMalick DiopRD GaussKeith HellerTaylor HenricksDavid KitterickMelissa KnoxClarence KwokBrendan LeePhilippe NeffJigar PatelMital PatelChris ReynoldsMatthias SahmRakesh ShankarYiyang TaoAtsushi TatsuguchiPekko TonteriTony UccelliniMoritz Zschoche Global Capital MarketsHoward BrocklehurstLauren CummingsEric FarinaPatrick GallagherBrendan MacBrideAngus MillarMichael OcciElizabeth RosnerGustavo Siqueira Wealth ManagementJosh CarmodyVince ColucciTanya CurryAlex DunlapMark LandersSuzanne LindquistChris LinkPaul McGearyStewart MondayFrank MurrayAli NestDawn NordbergJodie ResnickBobby Singh Investment ManagementJoshua AttieBobby BassmanMax BoeserLisa Buhain WinslowLogan BurtAaron GreenoAnuj GulatiJames HamCatherine HongManfred HuiNic SochovskyFederico VettoreMiguel Villalba LeirosKrace Zhou Internal AuditSim Gian ChinClaire GaveyDougie PatonBarbara Tam TechnologyZviad AshvilAnnie FosterAmit KhannaGeorge KonstantoulakisGreg ParentJonPaul PizzaPrakash VenkataramanAl RamosAaron SatlowPeter TroyPriyanka VasudevanTali Zidon OperationsDonal ConnollyTodd DubinskyWendy SylvesterJason Tarantino FinanceAidan ArmstrongGrace GaoGareth JamesDavid KaplanKyla MurphyDavid WolfowitzHuman ResourcesJosh Balik-KleinSeana GormleyRob HamptonPatti Hynes Legal and ComplianceAlphonzo GrantVictoria JonesAmit KochharRocky ProcopioTamsin RoeTom SmallmanChloe WallMichelle WilkeAmy Zervas Risk ManagementJonathan HannersSanghamitra KarraMatthew SchreiberNancy TsangTsukasa Yamashita AdministrationMatthew Scott SlovikJoan T. Tally Morgan Stanley Bank NAJohn GalanteNeha Patel Company ManagementYuki Hasegawa <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/the-world-economic-forum-founder-shares-the-biggest-threat-to-the-economy-davos-2019-1">The founder of the World Economic Forum shares what he sees as the biggest threat to the global economy</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/rfnZkOOI-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

Morgan Stanley just promoted 145 new managing directors -&#160;we got a peek at an internal memo with all the names

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5644d41b2491f92b008b49d0-3056-2292/rtr2d4sx.jpg" alt="Blankfein Cohn" data-mce-source="REUTERS/Natalie Behring" />REUTERS/Natalie Behring</div></div></div>Goldman Sachs has promoted 425 people to managing director."Our new Managing Directors represent the best of our firm's dedication to excellence, leadership and client service, and we wish them continued success in their careers," Goldman CEO Lloyd Blankfein said in a statement.It's a big deal to be named a managing director. The title is just one step below "partner," which is one of the most highly-coveted titles in investment banking. The next class of MDs won't be selected until 2017. In 2013, <a href="http://www.businessinsider.com/goldman-managing-director-selection-2013-3">Goldman changed its managing director selection process</a> from every year to every two years. That year, <a href="http://www.businessinsider.com/goldman-managing-director-class-2013-11">280 people</a> made the cut.The following individuals have been promoted:Catherine Addona-Peña Alokik Advani Sam Agnew Daniel Ahern Murtaza Ahmed Fusae Akamatsu Phil Almond Ana Alonso Roy Appelman Juliano Arruda Alex Ashwal Daniel Avery Misty Bailey Tom Barkes Jose Barreto Sushil Bathija Gregoire Baudot Olivier Belaich Sharon Bell Allison Beller Christine Benson Schwartzstein Sam Berberian Todd Berger Sandy Bernhardt Greg Berube Shashi Bhushan (Bengaluru) Lyla Bibi Julie Billings Alexander Blanchard Tristan Blood Katherine Bloom Alexander Blostein John Blythe Andrea Bonini Vijay Borkar Jean-Pierre Boudrias Dyson Bowditch Rhett Brewer Sean Brewer Cameron Brien Tyler Brooke Marios Broustas Melissa Brown Jacob Buitelaar Jason Burgess Manuel Camacho Tim Campbell Eliot Camplisson Susana Cao Miranda Nicholas Chan Sorubh Chandani Amy Chang Dennis Chang Scott Chastain Scott Chen (IBD) Yu Chikami Vikram Chima Sung Cho Caroline Chu Simon Clarke Ray Clifford Jorge Combe William Connolly Ron Cortina Daniela Costa Yasmine Coupal Patricia Creedon Brian Culang Michelle Daly Ranga Dattatreya Christopher Daur Brian DeCenzo Alexis Deladerriere Robert Devens Devanshu Dhyani Scott Dias Johanna Diaz Simon Dickinson Andrew DiMaria Darren Dixon Terence Donnelly Christopher Droege Lindsay Drucker Mann Frank Drury Caroline Dunne Steven Edwards (Internal Audit) Jeffrey Egee Naoko Ehara Inna Elyashkevich Jason English Andrew Erekson Joris Esch Ana Estrada Cristina Estrada Owain Evans Julia Feldman Jing Feng Albert Ferng Val Feygin Dan Fishman Dennis Fleck Terence Flynn Ian Foster (IBD) Kelly Galanis Ilya Gaysinskiy Libardo Gerardino Said Ghusayni Michael Gillott Arvind Giridhar Mark Glotfelty Chloe Goddard Lakshya Goel Peter Goertzen Andres Gonzalez Clara Gonzalez-Martin Claire Goodeve Anton Gorshkov Simon Gosling Jessica Binder Graham Michael Graham (Securities) Glenn Greilsamer Fabrizio Grena Alain Griveau Pierre-Yves Guerber Renaud Guidée Renu Gupta Christoph Haenschel Simon Hale Jay Handfield Deirdre Harding Nada Hassan Frances Hawkins Tobias Heilmaier Christoph Heuer Kenneth Ho Luke Hodges Jennie Holloway Matthew Hostasa Henry Howell Soomin Hu Victor Hu Andrew Huang Lee Hughes Michael Hui Shinichiro Ichiki George Ingram Francesca Innocenti Karen Ip Yuichiro Isayama Shubha Iyer Kristy Jago Matt Jahansouz Lear Janiv Jessica Janowitz Franklin Jarman Jabe Jerram Lei Jin Moritz Jobke Charles Johnston Ganesh Jois Katherine Jollon Colsher John Jonke Shrut Kalra Emiko Kamoda Markus Kant Yugandhar Karna Lotfi Karoui Vanya Kasanof Ting Ke Kyle Kendall Richard Kendrick Corey Kenyon Anthony Kim Seong Eun Kim Sean Kingston Teresa Kingswood David Kirschner Michael Klym Jared Klyman Andrew Knight Timur Kocaoglu Kevin Kochar Christina Kopec David Korpi Caroline Kraus Jennifer Krevitt Ajay Kumar Raj Kumar Kosuke Kurosawa Marc Kurz Takashi Kuwano Loredana La Pace Phil Labbe Marco Laicini Vidya Lakshmi Lia Larson Kinger Lau Max Layton Jerome Lebuchoux Andrew Lee (GIR) David Lee (IMD) Jay Hyun Lee (MBD) Jerry Lee Shane Lee Valerie Leeder Panayiotis Lemonidis Joe Lenehan Daniel Levy Yael Levy Olga Lewis Christina Sun Li Chuan Li James Li Edmund Lim Stephen Little David Liu Daniel Lochner Michael Loetzsch Donald Lu Rochelle Lucas Matthias Ludemann Christopher Lvoff Andrew Lyons Kristen Macleod Manju Madhavan Lynn Magnus Thomas Malafronte Sajith Maliakel Rakesh Manani Elizabeth Mann Jim Mannoia John Manzi Jia Mao Guillaume Marinacce Jeremie Marrache Matthew Mason Gaurav Mathur Yuji Matsumoto Tom McAndrew Scott McHugh Andrew McIlroy Jenny Meng Shahmil Merchant Joann Mercurio Maryline Mertz Marco Messeri Hideo Michiba Jared Miller Stacey Miller Elizabeth Milonopoulos Pascal Mischler Pooja Mishra Prahlad Doretta Mistras Matthew Mizrahi Hillel Moerman Soren Moller-Rasmussen Fausto Monacelli Q Montazeri Leonie Morel Owen Morris Daniel Motta Ricardo Mourao Christian Mueller-Glissmann Niladri Mukhopadhyay Mathieu Munuera Francis Murphy Thomas Murray Charles Myers Harsh Nanda Asad Naqvi Ryan Nash David Naulty Toh Ne Win Shapour Neshatfar Billy Newport Anya Newton Katrina Niehaus Christos Nifadopoulos Ryan Nolan Brian Nordahl Steven Nowak Matthew O'Callaghan John Olivo Oscar Ostlund Marco Paesotto Kanak Palanisamy Sundaram Pandiarajan Mrudang Pandya Francesco Paolicelli Dhaval Parekh Keyur Parekh Akash Patel Himin Patel Jatin Patel Cristina Patron Nicholas Peach Agostina Pechi Xi Pei Shlomit Perry Joseph Persky Carlos Prieto Ricardo Puggina Tim Quandt Stephanie Rader Emilie Railhac Amit Raje Sudarshan Ramakrishnan Akila Raman Vishaal Rana Robert Rancitelli Zeeshan Razzaqui Paolo Re David Reis Kevin Relihan Ben Reuter Matt Rhodes Clare Richards Brian Richardson Richard Rivero Duane Robinson Fabiano Romeiro Agustin Romo Calvo Karen Rossi Matias Rotella Anne Russ C. Kyle Russ Jamie Russell Isidoor Rutten Timothy Ryan Craig Sabal Carolyn Sabat Michael Sachs Hassan Salamony Nicholas Saunders Carly Scales Marc Schaffer Tom Schouwenaars Jameson Schriber Leonard Seevers Masataka Sera Arpan Shah (Internal Audit) Dhruv Shah Nitin Shah Ashoke Sharma Nik Sharma Salil Sheth Jonathan Shugar Aaron Siegel Eric Siegel Julie Silverman Jim Sinclair Balaji Sivasubramanian Neil Slee Martin Smith (IMD) Scott Smith Lin Smyth Douglas Spell David Sprake Jack Springate Sujatha Srinivasan Ricardo Stabile John Startin John Stecher Alexander Stiles Peter Stone Miruna Stratan Matthew Straughen Hiroyuki Sugiura Joseph Sumberg Philip Sun Lawrence Tankel Richard Tarling Ian Taylor Mike Taylor (Services) Sophie Taylor Latifa Tefridj-Gaillard Kurt Tenenbaum Prasanna Thati Radha Tilton Vincent Tiseo Jandirk tom Dieck Margo Topman Shinsaku Toriyama Dom Totino Joseph Traina Matthew Traina Alexis Tsang Tetsuya Ukai Silvia Valente Laura van Alkemade Carol Van der Vorst Alexis Vassilakas Kerone Vatel Thomas Vaughan Meriel Vessey Alexandra Vincenzi David Wade Dennis Walsh Alex Wang Jun Wang Moon Wang Katherine Ward Amy Watson Peter Watson Whitney Watson Gregory Watts Jie Wei Michael Weiss Miriam Wheeler Pete Williams Wes Williams Jiahong Wu Tony Xu Michael Yaeger Satoshi Yamagata Huan Yang Jonathan Yarrow Sylvia Yeh Vincent Yeung Derek Yi Jon Yoder Jaewon Yu Brendan Zeigon Daniel Zimmerman Martin Zoll <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/seaworld-end-killer-whale-show-san-diego-blackfish-2015-11">SeaWorld is ending its killer whale show after being criticized for how it treats them</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VjdnBxeDr7ABHNOUF_pwCshHV8m9AMwX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'VjdnBxeDr7ABHNOUF_pwCshHV8m9AMwX',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

You Searched For "claire li" and got 5 results

Highest sovereign defaults in 2022, two in 2023: Moody's

IANS

Morgan Stanley just promoted 145 new managing directors - we got a peek at an internal memo with all the names

Alex Morrell,Dakin Campbell

The Goldman Sachs new managing director list is out!

Julia La Roche

China Will Need A Series Of Miracles To Sustain Growth

John Mauldin

This guy created a Twitter bot that won him over a thousand 'retweet to win' prizes

Nathan McAlone

You Searched For "claire li" and got 5 results

Highest sovereign defaults in 2022, two in 2023: Moody's

IANS

Morgan Stanley just promoted 145 new managing directors -&#160;we got a peek at an internal memo with all the names

Alex Morrell,Dakin Campbell

The Goldman Sachs new managing director list is out!

Julia La Roche

China Will Need A Series Of Miracles To Sustain Growth

John Mauldin

This guy created a Twitter bot that won him over a thousand 'retweet to win' prizes

Nathan McAlone

Morgan Stanley just promoted 145 new managing directors - we got a peek at an internal memo with all the names