Emerging market debt burdens may be sorely understated
It makes much less sense for a bond issued by Petrobras International Finance Company, a Cayman Island subsidiary of the Brazilian oil group, to be added to the debt statistics of the Cayman Islands.
Investors braced for credit crisis in emerging markets
Last month $31bn was sucked out of emerging-market debt funds, the biggest outflow on record since October 2008, according to the IIF.
Analysts say the developing world as a whole is more resilient than at the onset of previous downturns, such as the Asian financial crisis of 1997-98 and the Latin American debt crisis of the 1980s.
FT 2 April 2020
Asian financial crisis of 1997-98
Latin American debt crisis of the 1980s
Last month $31bn was sucked out of emerging-market debt funds, the biggest outflow on record since October 2008, according to the IIF.
Analysts say the developing world as a whole is more resilient than at the onset of previous downturns, such as the Asian financial crisis of 1997-98 and the Latin American debt crisis of the 1980s.
FT 2 April 2020
Asian financial crisis of 1997-98
Latin American debt crisis of the 1980s
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