Emerging markets are already beginning to feel the strain of rising global debt levels, one of the South African Reserve Bank’s deputy governors said on May 10.
According to Daniel Mminele, global debt levels – if left “unchecked” – have the potential to lower growth and undermine financial assets as bouts of financial instability become more common.
“These developments may harbour some serious implications for emerging markets,” he said. “Export-dependent emerging economies will be impacted a
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