Emerging Markets Monthly Highlights: A Bump On The Path To Recovery
Jan. 20, 2021
The resurgence of COVID-19 cases and new lockdowns may hinder the emerging markets' recovery in early 2021. Adverse economic conditions in the first quarter will be especially stressful for EM governments with high debt and little room for additional policy response and for corporations with depressed revenues and limited room to further cut expenses. Therefore, more downgrades and defaults among lower rated entities are likely.
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