Historic cascade of defaults is coming for emerging markets

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Published : July 16th, 2022
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Bloomberg/Sydney Maki/7-7-2022

“A quarter-trillion dollar pile of distressed debt is threatening to drag the developing world into a historic cascade of defaults.”

USAGOLD note: The problem amounts tp $237 billion in debt trading in distress – about 17% of the outstanding $1.4 trillion in emerging market external debt. Bloomberg raises the prospect of a domino/contagion effect “as skittish traders yank money out of countries with similar economic problems and, in so doing, accelerate their crash.”

Read the rest of the article at USA Gold
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