Emerging markets moving towards debt crisis: BOJ chief

Tokyo

BANK of Japan governor Haruhoko Kuroda on Tuesday added his voice to a chorus of recent warnings over the high and fast-rising level of dollar and other foreign currency-denominated debt in emerging economies of Asia and other regions of the world.

Mr Kuroda acknowledged that the global economy "is generally returning to a surer footing" and that it may have reached "escape velocity" from a decade of stagnation following the 2008 global financial crisis.