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Credit Conditions: Emerging Markets Q2 2022: Conflict Exacerbates Risks

The Russia-Ukraine military conflict is hampering already feeble credit conditions in emerging markets. Inflationary pressures were already denting corporations' margins and households' purchasing power prior to the conflict. Now the rising energy and food prices have intensified challenges, at least over the short term, because the potential for a severe confidence shock could weaken global demand and cool off prices.


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