Long-term finance emerging markets' choke point
They are struggling to mobilise funds to build schools, roads and power stations to spur growth: World Bank
Tokyo
EMERGING markets are suffering collapses in the run-up to a decision by the US Federal Reserve on raising interest rates but emerging economy financial systems in general face a wider attack in a new World Bank report on shortages of long-term funds for development.
"Shortage of long-term financing since the 2008 crisis is choking the investment-backed growth of companies in developing countries," says the report published on Monday.
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