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Less foreign borrowing, longer bonds offset rise in emerging debt levels - BIS

Reuters  |  LONDON 

By Sujata RaoLONDON (Reuters) - A large-scale shift towards domestically issued and longer-dated bonds in emerging markets has helped build resilience to external shocks despite the increase in overall debt levels, the Bank for International Settlements said.The BIS, an umbrella body for global central banks, has warned in the past that developing world risks were entering a new crisis because of a build-up in debt levels, especially in China. But its latest report found that changes in the composition of debt were a mitigating factor."Borrowing is mostly done in local currencies, at longer ...

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First Published: Sun, September 17 2017. 21:52 IST