Short-term foreign debt is a killer for emerging markets as recent events have shown. Incredibly, few analysts bother to measure it accurately. Often they only consider medium- and long-term debt figures to make predictions about economic health. Small wonder so many of those forecasts prove incorrect.
Trying to redress the balance is Alberto Ades, an economist with Goldman Sachs’ emerging markets economic research group in New York. Pulling figures from several sources, he has come up with a table showing the short-term debt position for major emerging countries.
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