Emerging markets still taking on dollar debts, BIS data shows
Rapid growth in credit to emerging markets echoed by broader rises in global liquidity
Credit flows to emerging markets accelerated in the fourth quarter of 2017 alongside wider growth in foreign currency debt worldwide, figures from the Bank for International Settlements show.
Growth in US dollar credit to emerging markets rose to 10% year-on-year, while total US dollar credit to non-bank borrowers outside the US rose 8% over the same period, reaching $11.4 trillion. Outstanding euro credit to non-eurozone borrowers expanded by 10% to €3 trillion ($3.62 trillion).
Flows of
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