El Salvador Payment to Clear First 2023 Hurdle for Distressed EM.

"Some frontier markets are concerning, but at the bigger market level, foreign ownership of debt has come down because more debt has been issued locally and bought by domestic investors. That leaves investors to focus in on other pockets of risk in the meantime - like Tunisia, which is the only other non-defaulted, distressed emerging market with a major foreign, hard-currency bond maturing this year. (Bloomberg) -- El Salvador's Bitcoin-touting government is poised to deliver on a $604 million bond maturing this week, in a turn of events that leaves investors in distressed emerging-market debt with only one more big maturity to worry about this year. [Extracted from the article]