A planned $500 million bond sale from Papua New Guinea, a country that has tried and failed to sell foreign debt before, will test whether investors are still receptive to riskier borrowers after a selloff in emerging markets, The Wall Street Journal reported. The offering could conclude this week, and would mark the first sale of junk-rated sovereign-dollar debt since July, when Angola sold $500 million in 30-year bonds, according to Dealogic. In recent months, rising U.S. interest rates and a stronger dollar have hit emerging-market stocks and bonds.

Yeşil Kundura, one of Turkey’s oldest shoe brands, has been granted bankruptcy protection on Monday, Ahval reported on a Hürriyet newspaper story. Turkish business groups have been struggling to stay afloat, as the lira has dropped more than 40 percent against the dollar this year, while, after weeks of inaction, Turkey’s Central Bank raised its benchmark interest rate of 17.75 percent by 625 basis points to protect the lira and to control the rising inflation.

China’s ever-growing money market funds pose an increasing problem for the nation’s central bank as policy makers attempt to boost the flow of credit to cushion an economic slowdown, Bloomberg News reported. While the funds have offered savers a handy alternative to risky stocks and once high-flying wealth management products, they’re effectively raising borrowing costs.

The Reserve Bank of Australia is downplaying risks to the housing market from rising mortgage interest rates, saying that the cost of funding a home loan is still below that a year ago, The Wall Street Journal reported. In minutes of its Sep. 4 policy meeting released Tuesday, the RBA said that at the time of the board gathering, lenders accounting for around 40% of the market had raised mortgage lending rates.

The Turkish government will unveil measures to help banks tackle the expected pile-up of bad loans resulting from the lira’s plunge and soaring interest rates, according to people with knowledge of the matter, Bloomberg News reported. The plan will seek to mitigate the need for capital injections and propose transferring non-performing loans to a state-designated entity, said the people, who asked not to be identified because the deliberations are confidential. The measures are likely to be announced on Thursday, one of the people said.

China agreed to several small oil deals with Venezuela this week but gave no public confirmation that it would extend more loans to the cash-strapped country during a rare visit by President Nicolás Maduro to Beijing. Venezuela faces a stiff payments schedule over the next two months of about $2bn to bondholders, some of whom have debt secured against US-based refiner Citgo, and in compensation to western oil companies for past nationalisations in Venezuela.

Turkey’s central bank sharply raised interest rates—defying President Recep Tayyip Erdogan’s demand to cut them—in an attempt to counter the country’s economic problems and reverse growing investor aversion to emerging-market economies, The Wall Street Journal reported. The central bank increased its main interest rate to 24% from 17.75% on Thursday, citing concerns over price stability and saying it would maintain a tight monetary-policy stance until the inflation outlook improves significantly.

Chinese companies’ debt-servicing firepower has slumped to a three-year low even as authorities move to support their financing, showcasing the difficulty of getting stimulus through to the real economy, Bloomberg News reported. Listed nonfinancial companies had cash and equivalents to cover only 81 percent of debt due in the coming year, the worst since 2015 -- when China was battling hard-landing fears -- data compiled by Bloomberg show. Materials, utilities and energy sectors are particularly vulnerable as their cash levels were at about half of short-term obligations.

Chinese aviation-to-finance conglomerate HNA defaulted on a Rmb300m ($44m) loan raised through a trust company, the lender said on Thursday as it sought to freeze HNA assets, the Financial Times reported. The announcement by Hunan Trust is a sign that HNA’s liquidity woes are beginning to have a broader impact outside China’s formal banking sector. The company is already under strict supervision by a group of bank creditors, led by China Development Bank, following a liquidity crunch in the final quarter of last year.

China agreed to extend a $5 billion credit line to cash-strapped Venezuela, said the Venezuelan finance minister, as President Nicolas Maduro headed to Beijing. Minister Simon Zerpa told Bloomberg News that Venezuela would pay back the loan with either cash or oil, Bloomberg News reported. The countries were expected to sign what Zerpa described as a strategic alliance on gold mining. “Venezuela has a great alliance with China,” Zerpa said on Thursday.