Low-income countries are exposing themselves to serious economic risks by issuing ever-higher levels of foreign currency-denominated debt, a blogpost from the International Monetary Fund warns.

These countries are set to issue record-high foreign-currency debt in 2019, boosted by the high returns their bonds offer to international investors.

But the IMF blogpost warns this trend poses significant risks. It estimates a third of emerging market debt is already overvalued. It also warns that