Posted on 07/15/2022 10:47:38 AM PDT by nickcarraway
Traditional debt crisis signs of crashing currencies, 1,000 basis point bond spreads and burned FX reserves point to a record number of developing nations now in trouble.
Lebanon, Sri Lanka, Russia, Suriname and Zambia are already in default, Belarus is on the brink and at least another dozen are in the danger zone as rising borrowing costs, inflation and debt all stoke fears of economic collapse.
Totting up the cost is eyewatering. Using 1,000 basis point bond spreads as a pain threshold, analysts calculate $400 billion of debt is in play. Argentina has by far the most at over $150 billion, while the next in line are Ecuador and Egypt with $40 billion-$45 billion.
(Excerpt) Read more at channelnewsasia.com ...
The author just destroyed his credibility.
“Lebanon, Sri Lanka, Russia, Suriname and Zambia are already in default...”
Are you saying that Zambia is not in default?
I like the way Russia, who is solvent, is stuck in the middle of the list, as if it is indistingushable from Sri Lanka and Surinam.
The great reset is upon us
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