The level reached by world debt had already been a cause for concern by the main central banks and international financial organizations in recent times. But the truth is that the pandemic deepened the problem. Of course, its severity is not the same for everyone. The emerging markets, although they are not the main responsible for global indebtedness since they are the developed markets that hold almost 68% of the total debt, show increasing indicators of deterioration and vulnerability. For this reason, in the latest IMF Financial Stability Report, the economists Deghi, Natalucci and Qureshi called attention to the public debt holdings of emerging market banks for financial stability. Is that The pandemic has left emerging market banks with record levels of public debt, raising the likelihood that pressures on public sector finances could threaten financial stability.
Source: Ambito
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