An unprecedented withdrawal of capital from emerging marketplaces is threatening to produce a wave of financial debt defaults as governments struggle with the double whammy of falling oil costs and the rapidly spreading coronavirus outbreak.
As traders fled emerging-market bonds in the latest months in favor of haven belongings, bond yields for the most vulnerable economies have skyrocketed. In one case in point, the generate on a dollar-denominated Angolan authorities bond maturing in November 2025 jumped to approximately 30{ae9868201ea352e02dded42c9f03788806ac4deebecf3e725332939dc9b357ad} on Friday, from underneath 7{ae9868201ea352e02dded42c9f03788806ac4deebecf3e725332939dc9b357ad} at the beginning…
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