How Sri Lanka’s economic collapse raises alarm bells for other emerging markets
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How Sri Lanka’s economic collapse raises alarm bells for other emerging markets
[bbvideo]https://www.cnbc.com/2022/08/13/how-sri ... rkets.html[/bbvideo]
Basket case Sri Lanka. It’s not an emerging market by the way.
They’ve borrowed since the 70s. In 1989 their debt was 60% of the GDP, more than it is now.
The trouble now is they don’t qualify for concessionary loans, from World Bank, MFI etc which had long payment periods and low interest (1%). So they’ve gone private and basically over extended themselves.
Low tax income and low FDI.
The Chinese interest rates are actually lower than western loans.
They’ve borrowed since the 70s. In 1989 their debt was 60% of the GDP, more than it is now.
The trouble now is they don’t qualify for concessionary loans, from World Bank, MFI etc which had long payment periods and low interest (1%). So they’ve gone private and basically over extended themselves.
Low tax income and low FDI.
The Chinese interest rates are actually lower than western loans.
pew, pew, pew, pew!
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