TCX

Did you know that TCX provides a solution to currency risk not only for frontier countries, but also for emerging countries? In fact, we cover over 110 countries that are on the OECD-DAC list in (Central) Asia, Europe, Africa, Eastern Europe, Latin America and Oceania!   TCX offers hedging services when it complements (rather than competes with) the commercial market offering. We operate based on the principle of additionality and exist to address unserved demand for FX risk solutions.   In practice, this means that TCX is active in countries where derivatives markets are (relatively) shallow or absent, and where it can extend the tenors currently provided by commercial hedging providers.    #fxhedging #developmentfinance #emergingmarkets

TCX's 10th Local Currency Lab took place last week in Rome! We invited representatives of our shareholders and strategic partners for a day of deep dives in #currency risk and anything local currency finance. The team shared practical aspects of currency risk solutions for frontier and #emergingmarkets, presented market outlooks, and spotlighted #blendedfinance. Thank you to International Fund for Agricultural Development (IFAD), Gulnara Yunusova, Marko Lazarevic, Bethlehem Tafesse for kindly hosting us.

Capital market development in the making! Congratulations to our long-time partner IFC - International Finance Corporation for issuing the largest Mongolian tugrik bond for a supranational. Xander Goudriaan: “It was our pleasure to partner with IFC on the largest-ever offshore bond issuance denominated in MNT. The issuance allows us to support more local currency financing flows to the country at attractive levels for borrowers. This protects them from currency risk and stimulates domestic capital market development for MNT assets at the same time. The size of the bond also demonstrates investor appetite, which is key to developing the market further.” #Mongolia #capitalmarket #currency #fxrisk IFC Treasury & Mobilization

The poorest are hit the hardest; twice! Research of Prof Ulrich Volz and Yuen Lo, PhD on 204 disaster quarters over 16 years show that the financial health of low income countries is particularly vulnerable to disasters. Depreciations follow disasters and increase their hard currency debt, expressed in local currency at the worst possible time. From climate crisis to debt crisis. Indexed local currency increases resilience, economic stability and debt sustainability. COP negotiators need not only discuss amounts of financing, but -- equally important -- that the used financial instruments are sufficiently resilient and protect borrowers from risk. The quality of finance matters. Perhaps most important for now would be to give a strong mandate to MDBs to assist their clients to reduce currency mismatches for existing debt and new debt flows. All the necessary instruments and know-how are in place to start offering and promoting loans indexed to the local exchange rate and thereby supporting the creation of currency risk markets. Now the political commitment is needed. #cop29 #innovation #capitalmarkets #energytransition #renewableenergy #climateaction Harald Hirschhofer Federal Ministry for Economic Affairs and Climate Action TCX

📣 TCX is hiring: join our mission to protect borrowers from #currency risk!   If you're driven by purpose and looking to make a meaningful impact in #developmentfinance, we invite you to explore these five open roles at TCX:   🔸 Associate Credit Risk (front office) 🔸 Associate Credit Risk (risk management) 🔸 ICT Specialist 🔸 AVP Finance and Control 🔸 (A)VP Public Sector FX Derivatives Sales and Structuring   Interested? Apply via the link below and become part of our dedicated team in Amsterdam.   #careers #hiring #impact

🔎 TCX is #hiring 🎯 We are looking for a finance professional to join our Finance & Control team in Amsterdam! ❓ Interested? Check out the vacancy below or have a look at the other job openings on our website: https://lnkd.in/e5hYp2W #careers #developmentfinance #currencyrisk

This week at the Annual Meetings of The World Bank International Monetary Fund, TCX met with lenders, policy setters, donor governments and borrowing country delegations. We discussed ways to reduce #FXrisk exposure in external debt portfolios & creating enabling environments for responsible financing, and the importance of building #riskmanagement capacities in Debt Management Offices. #developmentfinance #debtsustainability

The ALCB Fund has concluded a TZS 27.2 billion (USD 10 million) investment in a senior unsecured bond issued by NBC Tanzania. The proceeds of the bond will facilitate loans to #MSMEs in #Tanzania and enable NBC to further expand its financial services to businesses and individuals throughout the country. The Fund’s investment in NBC continues its track record of supporting African financial institutions through the development of local currency bond markets, helping to promote long-term financial resilience in African economies. The investment was hedged in collaboration with TCX, through its EU Market Creation Pricing Facility. Read more here: https://lnkd.in/eCpSwZKr

TCX is at the annual The Global Impact Investing Network Investor Forum this week. Jerome Pirouz, Roy Forney and Thomas Oostheim are meeting investors, borrowers, policymakers and others to talk #currencyrisk in #impactinvesting and beyond. Thanks to all for the productive meetings today and we look forward to meeting you on day 2 tomorrow! #GIINForum2024 #fxrisk #SDGs

🌍 Want to make an impact in development finance? We are #hiring for two credit risk positions at the TCX office in Amsterdam! 📝Credit Risk Analyst 📝Associate Credit Risk Check out the vacancies below and apply by November 15👇 https://lnkd.in/e5hYp2W #careers #developmentfinance #currency #fxrisk