Emerging economies face rising interest rates as capital flows recede – Financial Times

Emerging economies face rising interest rates as capital flows recede – Financial Times

The vast wave of monetary stimulus that has kept emerging economies afloat since the coronavirus pandemic struck earlier this year has started to abate, as pressure mounts on those countries to fund their recovery and massive debt build-up. This combination risks creating a damaging spiral of declining currencies and rising borrowing costs, triggering debt crises […]

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