Emerging markets meltdown: 5 big victims

[LordOfMud]

Emerging markets meltdown: 5 big victims  

This means emerging market growth rates fall and public finance deficits widen.

1. Turkey

Turkey's currency has been thrashed by a potent mix of confrontational politics, economic policy confusion and US interest rate hikes. The lira has plunged more than 40% versus the US dollar since January.

2. Argentina

Argentina's peso has more than halved in value against the dollar since the start of the year.
As the currency nosedived again this week, the government asked the International Monetary Fund to speed up payments from a $50 billion lifeline set up earlier this year.

3. India

India's rupee hit a new record low against the dollar on Friday as part of the broader emerging market sell-off. It's down almost 10% since the start of the year.

4. Brazil

Politics have been weighing heavily on Brazil's currency, the real, in recent months. It has slumped 20% against the dollar since the start of January.
Investors are worried about the outcome of the presidential election scheduled for October.

5. Russia

Russia's ruble has crumbled in recent months in the face of economic sanctions. The currency has shed about 15% against the dollar this year.
Russia has been squeezed for years by Western sanctions, which were imposed over its involvement in the conflict in Ukraine.

[LordOfMud]

Markets In PANIC MODE!

Internal debt, banking crises and corporate debt blow-ups are now inevitable in emerging markets. This will create fiscal black holes, as in Brazil and India. Oil importing emerging markets face a triple-whammy

 

[evadra_rowdy]

Venezula miss kotav

[dakumangalsingh]

2 minutes ago, evadra_rowdy said:

Venezula miss kotav

2 Rs/litre appude Venezuela sanka naakipoindii 

[LordOfMud]

6 minutes ago, dakumangalsingh said:

2 Rs/litre appude Venezuela sanka naakipoindii 

[LordOfMud]