Massive interest burden haunts $29-trillion emerging debt pile

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Massive interest burden haunts $29-trillion emerging debt pile - Business Mirror

Quick Summary:

S&P analysts wrote in a report last month that they expect more defaults over the next decade than in the past, due to debt levels and the cost of borrowing.

Emerging-market debt has more than doubled over the past decade to roughly $29 trillion, most of which came from local borrowing, according to UNCTAD’s annual debt report.

Emerging-market watchers including RBC BlueBay Asset Management and Morgan Stanley don’t expect any nations to go bust next year either, largely because international institutions including the International Monetary Fund are stepping in and international capital markets reopened for some borrowers.