Danger in soaring foreign currency debt: BIS
US dollar strength has aggravated problems for borrowers who have to find more local currency to pay interest and repay loans in the US currency
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London
TEN years after the 2008 financial meltdown, soaring foreign currency debt is endangering financial markets.
It has already caused problems in many emerging markets this year, the Switzerland-based Bank For International Settlements (BIS) said in its latest quarterly report.
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