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.”
