New Delhi, Jan 16 (IANS): Emerging market economies will likely soon face strong balance of payment pressure as both domestic and foreign investors question these countries’ public finances and send their money abroad, The Hill reported.
That, in turn, will likely cause many countries to come knocking at the IMF’s doors for large bailout loans as they are spurned by the international capital market, Desmond Lachman, senior fellow at the American Enterprise Institute said in the opinion piece. He was formerly a deputy director in the International Monetary Fund’s Policy Development and Review Department and the chief emerging market economic strategist at Salomon Smith Barney.
Still amid the pandemic, emerging market public finances appear to be particularly vulnerable to a souring of the world economic and financial market…
