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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Emerging markets: Foreign currency debt troubles

Posted on 24 October 2008

From Businessweek.com: Foreign-denominated debt is squeezing countries from Romania to South Korea as their local currencies falter. When Daniel Ion bought his first home last year, his monthly mortgage payment was $704. Now it’s $939—and rising.

“We wanted so much to have our own house, but now we are really starting to feel the burden,” says Ion. Soon, he frets, his salary as a manager at a toy factory may not be sufficient to cover the payments….. Full Article: Source chan=globalbiz_europe+index+page_top+stories


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