...Credit Growth to Inch Up: Global credit growth is likely to see a mild increase in 2015 to 4.6% based on YTD performance. The Middle East and Africa (MEA) will continue to lead global credit growth with 8.1%. Asia and Latin America are forecast to recover some momentum, while developed markets credit will moderate to 2.6% growth. Emerging Europe (EE) is on track to decelerate to 2.2%. Lower global growth, weaker commodity prices and tighter lending conditions are likely to weigh on credit growth in emerging markets (EMs). Growth Stabilized in 2014: After picking up in 2013, Fitch Ratings estimates that global credit growth remained broadly stable at 4.4% in 2014. This reflected the credit recovery in developed economies that was balanced by the slowdown in EMs. The credit slowdown in EMs could have been greater, but depreciation pressures impacted the credit stock in economies with material financial dollarization. Significant de-leveraging has largely been confined to Europe. Regional...
