Global debt soars, along with fears of crisis ahead
The concern stems from emerging-economy businesses which borrowed in dollars or euro and won't be able to pay back, leading to defaults amid rising interest rates
Wed, Sep 05, 2018 - 5:50 AM
A US$100,000 loan would have cost 379,000 lira to pay back in January. The same loan would now cost over 660,000 lira to pay back.
TEN years after the worst financial panic since the 1930s, growing debt burdens in key developing economies are fuelling fears of a new crisis that could spread far beyond the disruption sweeping Turkey.
The loss of investor confidence in the Turkish lira, which has...