Rising borrowing rates highlights emerging-market debt crisis
Countries with heavy debt burdens have limited ability to print own currencies to fund those debt
05 March 2021 - 10:11
London — Even if the pandemic-related debt explosion can be managed by the world’s biggest economies, last week’s bond market ruckus put large swathes of the developing world on notice yet again.
Worryingly, there are some fears the episode may signal far more than another tactical retreat by financial traders and could potentially mark an era-defining shift in the debt calculus for some of the biggest emerging economies...
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