According to Mitul Kotecha, senior emerging markets strategist at TD Securities, 2019 is an important political year for several Asian countries, with elections in India, Indonesia, Thailand and Philippines, all scheduled over H1.
Key Quotes
“While we think the INR, IDR and PHP will hold up relatively well to external trade risks they will have to face domestic political hurdles in the months ahead.”
“In India PM Modi faces a tougher challenge than previously expected and could end up governing with a broader coalition.”
“In Indonesia, President Jokowi faces a re-run of the 2014 election with religious and economic issues high on the agenda of voters.”
“Following several delays Thailand goes to the polls under a new constitution, with the lower house up for grabs. Philippines holds mid term elections, with the composition of the Senate particularly important given its powers of oversight over the President.”
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