The Emerging Markets Podcast by Tellimer

Maria-Jose Alvarez , Head of Client Success at Tellimer , joins Tellimer Founder and CEO Duncan Wales to review an extraordinary first half of 2026 for emerging markets, and look ahead to the second. Drawing on Maria-Jose's work with Tellimer's analysts and international clients, the conversation examines the US and Israeli strikes on Iran, the closure of the Strait of Hormuz and the inflationary shock that followed, alongside Venezuela's political transition following the removal of Nicolas Maduro, and the prospects for Ukraine. They explore the political realignment across Latin America, and why emerging market equities have outperformed developed peers, led by chip and technology suppliers. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Dr Mohamad Al-Ississ , Macro and Geopolitical Strategist and former Finance Minister of Jordan, joins Tellimer Founder and CEO Duncan Wales to examine how a new era of geopolitical fragmentation is fundamentally reshaping the calculus for emerging market investors, sovereigns and corporations. Drawing on Mohamad's decade of leading Jordan's fiscal and economic policy, and his subsequent work advising boards and institutions on macro strategy and sovereign risk, the conversation examines why the world has shifted from optimising for efficiency to competing on resilience, and what that means for sovereign differentiation across emerging markets. They explore how AI is less a software story for EMs than an infrastructure and human capital imperative, and why energy policy has become inseparable from industrial and defence strategy. The episode also covers the corridor economies of Turkey and Azerbaijan, the risks of fiscal short-termism, and why career-safe index investing is increasingly a dangerous bet. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Alaa Bushehri , Head of Emerging Market Debt at BNP Paribas Asset Management , joins Tellimer Founder and CEO Duncan Wales to examine why investors in emerging markets remain invested through successive waves of global volatility. Drawing on Alaa's more than two decades with the BNP Paribas Group, the conversation examines how improved asset class fundamentals, stronger central bank credibility and diversified financing channels have kept spreads contained and sustained investor confidence. They explore the divergence between emerging market and developed market monetary cycles, with EM central banks demonstrating an unprecedented willingness to ease independently of the Fed. The episode also covers the structural case for local currency over hard currency, the outlook for de-dollarisation, idiosyncratic opportunities from Brazil and Colombia to Egypt, and how EM policymakers are better positioned to deploy fiscal tools ahead of monetary ones in navigating inflationary pressures. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Mike Gush , Partner at Baillie Gifford , joins Tellimer Founder and CEO Duncan Wales to examine why the investment case for emerging markets has fundamentally shifted. Drawing on Mike's two decades managing emerging market equities at Baillie Gifford, the conversation examines how the asset class has matured beyond its reputation for volatility, with stronger fiscal foundations and a new generation of world-class companies. They explore emerging markets' central role in the global AI supply chain and energy transition, from chip manufacturing and battery technology to critical minerals. The episode also covers the contrasting opportunities in China and India, digital leapfrogging across Latin America and Southeast Asia, and the renewed case for active stock selection over index exposure. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Frederique Dahan , Director of the Development and Public Finance Programme and Principal Research Fellow at ODI Global , joins Tellimer Founder and CEO Duncan Wales to discuss the evolving role of development finance in mobilising private capital for emerging markets and developing economies. Drawing on Frederique's two decades at the European Bank for Reconstruction and Development and her research at ODI Global, the conversation examines why the promise of turning billions into trillions through blended finance has largely failed to materialise, and what a more credible mobilisation agenda looks like. They explore how development finance institutions are rethinking their models, from originate-to-distribute strategies and risk-transfer mechanisms to closer integration with national development banks and local capital markets. The episode also covers the tension between bespoke deal-making and the standardisation required to attract institutional investors at scale, the implications of shrinking official development assistance, and how a shifting balance of global economic power is reshaping the relationship between DFIs and the countries they serve. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Natalie Chiaramonte , President of Sovereign Risk Insurance , joins Tellimer Founder & CEO Duncan Wales to discuss how political risk insurance functions as a critical enabler of long-term investment and lending in emerging markets. Drawing on Natalie's expertise in sovereign credit and trade finance, the conversation examines how underwriters assess sovereign creditworthiness beyond the numbers, weighing political stability, institutional quality, and policy credibility alongside the hard data. They explore how the business approaches multi-year financing commitments in volatile environments, why remaining a consistent and reliable partner through periods of stress is central to the sovereign risk model, and what distinguishes disciplined underwriting from opportunistic risk taking. The episode also covers how emerging market resilience has structurally improved since 2022, the role political risk insurance plays in mobilising private capital into otherwise uninvestable markets, and why the product is increasingly seen as a foundational tool for sustainable EM investment. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Phoenix Kalen , Global Head of Emerging Markets Research at Societe Generale Corporate and Investment Banking , joins Tellimer Founder & CEO, Duncan Wales , to discuss the investment implications of the US and Israeli attacks on Iran and what the conflict means for emerging markets across the short and long term. Drawing on Phoenix's deep expertise in sovereign debt, credit, and EM strategy built across institutions including RBS and JP Morgan, the conversation examines which economies stand to win and lose from elevated oil prices and supply disruption, why the market reaction has been notably more contained than the Russia-Ukraine shock of 2022, and what that tells us about the structural maturation of emerging markets as an asset class. They also explore the ongoing shift away from dollar-denominated assets, whether EM carry trades can recover, the growing case for local currency bond markets on their own merits, and why the old framework of treating emerging markets purely as a spread product over US Treasuries is increasingly difficult to defend. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Hasnain Malik⁠ , Head of Investment Strategy at ⁠ Tellimer⁠ , joins ⁠Tellimer⁠ Founder & CEO, ⁠ Duncan Wales ⁠, to discuss the rapidly escalating conflict between the US, Israel, and Iran, and the potential consequences for global markets. Drawing on Hasnain’s three decades of experience in MENA and analysing geopolitics and emerging market investment strategy, the conversation explores whether the war could expand across the region, what a destabilised Iran might mean for Middle East politics, and why a collapse of the Iranian regime could open the door to even greater instability. They also examine the risks to global energy supply through the Strait of Hormuz, the political pressures facing leaders in Washington and Tel Aviv, and how investors should think about positioning in emerging markets if oil prices and geopolitical risk remain elevated. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Dr. Lupin Rahman , leading sovereign debt expert and author of The Sovereign Debt Investor , joins Tellimer Founder & CEO Duncan Wales to discuss why sovereign credit risk is no longer confined to emerging markets, and how the EM playbook is increasingly shaping global fixed income. Drawing on Lupin's experience at PIMCO, the IMF, and the World Bank, the conversation explores how rising debt burdens in advanced economies are turning sovereign debt into an active driver of market volatility, challenging traditional assumptions around the risk-free rate. They also examine the importance of policy credibility, geopolitics and scenario-based risk pricing, the growing role of ESG as a core component of sovereign analysis, and how digitisation, tokenisation, and stablecoin adoption could transform sovereign issuance and investor access as global markets enter a more complex and differentiated phase in 2026. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ .

Tanner Taddeo , CEO and co-founder of Stable Sea , joins Tellimer CEO, Duncan Wales , to discuss how stablecoins are moving from the crypto periphery into the core infrastructure of global payments. Drawing on Tanner’s background across humanitarian finance, investment banking and enterprise fintech, the conversation explores how stablecoins help businesses hedge currency volatility, bypass USD liquidity constraints and speed up cross-border settlement in emerging markets, particularly across Global South–to–Global South trade corridors. They also examine the geopolitics of digital financial rails, the rise of non-USD stablecoins and on-chain FX, the role of regulation and reserve transparency, and why stablecoins are shifting from SMB savings tools to mid-market trade solutions and, increasingly, Fortune 500 treasury operations as the market moves from 2025’s legitimacy moment into a broader adoption phase in 2026. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠⁠ .

Maria Jose Alvarez , Client Success Manager at Tellimer , joins CEO Duncan Wales for a special year-in-review episode, revisiting what the team got right — and less right — in their 2025 emerging markets outlook. They unpack the impact of Trump’s second term and “Liberation Day” tariffs, the weaker US dollar and its outsized boost to EM local debt, hard currency bonds and equities, and why frontier markets like Vietnam and Indonesia quietly benefited from trade re-routing. The conversation also covers a more complicated-than-expected geopolitical backdrop, the absence of new sovereign defaults, the role of elections in shaping policy credibility, and why local rates, idiosyncratic restructurings and selected high-yield stories remain central to the EM opportunity set going into 2026. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . To get access to our top picks for 2026, please contact sales@tellimer.com . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠⁠ .

In this episode, Dominic Bokor-Ingram , Senior Portfolio Manager at Fiera Capital , joins Tellimer CEO, Duncan Wales , to dive deep into the forces shaping emerging markets today. Dominic and Duncan examine Saudi Arabia’s rapid evolution into an IPO powerhouse and why saturation may now be weighing on valuations. Dominic shares insights on Central Asia’s double-edged impact from the Russia-Ukraine conflict, where capital inflows are supporting growth but also fuelling inflation, along with the potential upside if risk premiums begin to ease. The conversation also highlights Egypt’s pivotal Ras El Hekma deal and the role of Gulf-driven investment as catalysts for greater stability and market depth. From privatisation hurdles to Vietnam’s reform trajectory, Dominic explains why leadership and institutional modernisation not political labels, are the ultimate drivers of equity market success. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠⁠ .

Eric Fine , Portfolio Manager and Head of Active Emerging Market Debt at VanEck , joins Tellimer CEO Duncan Wales to unpack how emerging markets have evolved from cyclical shock-takers to structural beneficiaries in a world where fiscal dominance is increasingly a developed-market issue. The conversation dives into the transformation of EM policy credibility, the rise of local-currency markets, and the shifting dynamics of reserve management driven by sanctions, gold accumulation, and the growing influence of CNY. They also explore the surge in EMFX, the balance between local and hard-currency debt, and where the most compelling opportunities — and risks — sit as investors prepare for another potential wave of EM inflows. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠⁠ .

Esther Law , Senior Portfolio Manager and Emerging Markets Sovereign Lead at Amundi , sits down with Tellimer CEO Duncan Wales to examine how emerging markets are building resilience through sustainable debt. Their discussion covers the evolving role of blended finance and multilateral development banks, the outlook for green and blue bond issuance, and the balance between local and hard-currency markets. They also reflect on recent sovereign restructurings and policy progress across emerging economies, highlighting where new opportunities are emerging in the next phase of EM fixed income. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ . The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠ .

Duncan Wales ⁠, ⁠Tellimer ⁠'s CEO, and his capital markets expert guest, ⁠Majd Nuri Shafiq ,⁠ assess the investment case for the Middle East. They discuss the growing role of local debt markets, the potential for regional stock markets, the rise of Sukuk issuance and Islamic finance, and how post-conflict reconstruction across Gaza, Syria, and Lebanon could spark a new wave of regional growth. The conversation also explores the intersection of geopolitics, innovation, and finance shaping the Middle East’s economic future. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠Tellimer.com⁠⁠⁠ .

In this episode, ⁠ Nick Rohatyn ⁠ – Founder & CEO of The Rohatyn Group⁠ – speaks with ⁠ Duncan Wales ⁠, CEO of ⁠ Tellimer ⁠, about the opportunities for EM in investment diversification. They unpack how shifting global politics and macro trends are pushing allocators beyond a U.S.-heavy stance, why EM now calls for a multi-asset approach to investing (spanning local and hard-currency debt, equities, and private markets), and how growing local participation and reconstruction cycles are reshaping risk, liquidity, and returns across EM. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Emerging Markets, Connected. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠⁠⁠Tellimer.com⁠⁠⁠⁠ .

In this episode, Duncan Wales – the CEO of Tellimer – speaks with Dennis Shen , Chair of the Macro Economic Council and Lead Global Economist of Scope Group , concerning the future of Ukraine. They unpack the state of Russia-Ukraine negotiations following the Alaska Summit, the significant role security guarantees must play in any just settlement, and the IMF financing of the nation as well as outlook for debt restructuring. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – your single point of entry to emerging markets. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠Tellimer.com⁠⁠ .

Duncan Wales , CEO of Tellimer , and Hasnain Malik , Head of Equity Strategy at Tellimer , unpack what’s really changed for emerging and frontier markets after a turbulent start to 2025. They explore where the best opportunities lie in large and small EM/FM markets, the fate of the low-cost manufacturing model amid trade tensions, the market impact of ongoing conflicts, and whether Big Tech’s dominance is finally fading. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – your single point of entry to emerging markets. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠⁠Tellimer.com⁠⁠ .

In this episode, host Duncan Wales , Tellimer⁠ CEO, sits down with Alaa Bushehri , Head of Emerging Market Debt at BNP Paribas Asset Management. They unpack the recent resurgence in emerging markets, delve into the impact of U.S. treasury yields and trade policy, the rise of local currency debt, the opportunities in China, and explore how seasoned investment frameworks can deliver Alpha in volatile conditions. A must-listen for investors seeking clarity and strategy in today’s shifting EM landscape. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – your single point of entry to emerging markets. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit ⁠Tellimer.com⁠ .

Manulife Investment Management Managing Director and Portfolio Manager, Elina Theodorakopoulou , joins Tellimer CEO, Duncan Wales , as they have an engaging conversation about the overall landscape of emerging markets debt (EMD). Despite the uncertainty and volatility, emerging markets resilience and performance have been astonishing, highlighting the depth and breadth of the asset class. As we embark into the second half of the year, they touch on the flows into the asset class, investors’ sentiment, new issuance euphoria - all under the importance of doing your homework. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – your single point of entry to emerging markets. Check out the full Tellimer offering ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Technologies Limited does not offer or provide advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person. For more information, please visit Tellimer.com .