EM Policy Credibility — Weekly Briefing (2026-10-19)
Zimbabwe made the largest credibility gain this week, while Estonia and Algeria slipped among the 169 monitored countries.
- Zimbabwe gain: The composite score rose from 48.2 to 53.8, a change of +5.6, driven by Credibility Gap (+34.9).
- Estonia decline: The composite score fell from 63.8 to 59.8, a change of -4.0, driven by Behind the Curve (-25.0).
- Algeria decline: The composite score fell from 53.2 to 49.5, a change of -3.6, driven by Liquidity (-5.1).
- Data gaps: Several sources are degraded this week, including the OECD, IMF, and FRED feeds, so these readings are provisional and the picture is incomplete.
Movers
| Country | Before | After | Change | Driver |
|---|---|---|---|---|
| Zimbabwe (ZWE) | 48.2 | 53.8 | +5.6 | Credibility Gap |
| Estonia (EST) | 63.8 | 59.8 | -4.0 | Behind the Curve |
| Algeria (DZA) | 53.2 | 49.5 | -3.6 | Liquidity |
Data caveat: the following sources are currently degraded and may lag: BIS_POLICY_RATES, EMBER, EPU, EUROSTAT, FAO, FRED_CPI, ILO_CPI, IMF_CTOT, IMF_IFS_CPI, IMF_MFS, OECD_CLI, OECD_CPI, WB_NIGHTLIGHTS.