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Virus resurgence could plunge emerging economies into debt crisis, warns IMF

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Virus resurgence could plunge emerging economies into debt crisis, warns IMF

August 4, 2020
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Railroad freight cars, including oil tanks, in Omsk. Russia and other oil exporters face trade balance losses this year of more than 3% of GDP, the IMF warns
Railroad freight cars, including oil tanks, in Omsk. Russia and other oil exporters are among the countries that could see a big deterioration in their trade balance, the IMF has warned. © REUTERS

A fresh mass outbreak of Covid-19 could increase the risks of an external debt crisis among emerging and developing economies which are vulnerable to sudden capital outflows, the IMF warned on Tuesday.

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