Emerging Markets Capital Flows Monitor (Jan.)

Aggregate Emerging Market net capital outflows slowed sharply in January. This appears to be partially due to large – but temporary – inflows into the Czech Republic. But it also reflected the continuing easing of outflows from China. According to our Tracker, total capital outflows from the emerging world slowed from $71bn in December to just $21bn in January. This was the smallest net outflow of capital from the emerging world since April 2016. On a rolling quarterly basis, outflows slowed from US$216bn in Q4 2016 to $151bn in the three months to January.