Frontier market outlook: some attractive valuation gaps
After a difficult 2022, this year looks quite promising for some EM high yielders given attractive valuations and positive momentum. Those covered include Angola, Nigeria, Egypt, Armenia, Georgia, El Salvador, and Sri Lanka

Gabriel Sterne
Head of Global Emerging Markets

Private: Gabriel Sterne
Head of Global Emerging Markets
London, United Kingdom
Gabriel delivers macro-economic products tailored for corporates and financial markets, as head of a team that integrates EM macro and strategy views. In recent years he has published wide-ranging research including on stagflation risks, monetary policy credibility, global savings, demographics, Covid scarring, risks and resilience in emerging markets, and sovereign crisis resolution. He joined from investment banking boutique Exotix in May 2014, following 20 years of public sector experience, including at the Bank of England and International Monetary Fund.

Regis Chatellier
Director of EM Strategy
+44 (0) 203 910 8040

Private: Regis Chatellier
Director of EM Strategy
London, United Kingdom
Regis is a senior strategist in charge of global emerging markets. He covers the sovereign hard currency debt, FX and local rates markets, combining top-down macro research with bottom-up/quant modelling approaches. Prior to joining Oxford Economics, Regis worked for more than 20 years in investment banks. He did his studies at Sciences Po. Paris (Economics & Finance) and he holds a Master’s degree in Economics from the University of Nantes.

Tatiana Orlova
Lead Economist, Emerging Markets
+44 (0) 20 3910 8048

Tatiana Orlova
Lead Economist, Emerging Markets
London, United Kingdom
Tatiana joined OE in May 2021. From 2017 to 2021, she ran her own macroeconomic research boutique, Emerginomics, as the Founder and Chief Economist, specializing in coverage of selected ex-USSR economies.
From 2012 to 2016, she worked as Director in CEEMEA Research at the Royal Bank of Scotland. Previously, she was employed as an emerging market economist in three other major investment banks (Credit Suisse, ING, and Nomura).
Tatiana holds an MSc in Economics from the LSE (2001) and Diploma in Economics with Distinction from the LSE (2000). From 1988 to 1994, she studied Applied Mathematics at the Moscow University of Electronics and Mathematics.
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