Not Just Sri Lanka, These Countries At Economic Crisis Risk On Rampant Dollar
Countries at risk of an economic crisis from the rampant dollar
A rampant dollar at a two-decade high crushing most currencies’ buying power in international markets, fears of an economic downturn and burned foreign exchange reserves point to a record number of developing nations now in dire straits.
According to Reuters, a record number of developing countries are currently in difficulty as several countries are exhibiting economic malaise similar to Sri Lanka, including typical debt crises, indications of collapsing currencies, 1,000 basis point bond spreads, and FX reserves. See the list below.
Rising borrowing prices, inflation, and debt all fuel concerns of an economic collapse, with analysis showing that Sri Lanka, Lebanon, Russia, Suriname, and Zambia are already in debt default, Belarus is on the verge of default, and at least another dozen countries are in danger of default.
The total price is staggering. Analysts estimate that…
