Beware, the Strengthening of the US Dollar Has Often Preceded Financial Storms, Especially in the 90s.
More and more countries could end up in default.
From an emerging country perspective, the surge in the US dollar is breathtaking. Since the beginning of 2022, the greenback has appreciated by 39% against the Ghanaian cedi, 28% against the Turkish lira, and 45% against the Sri Lankan rupee. In August 2022, the World Bank calculated that emerging market currencies had lost an average of 11% of their va…
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