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EMERGING MARKETS

Credit Crisis Looms The economic damage wrought by politicians’ responses to the virus pandemic is feeding a debt crisis in emerging nations. Ecuador, dependent on oil exports, has asked creditors to restructure its debts. Zambia, among Africa’s biggest copper producers, has delayed payments on its eurobonds and Chinese loans, sinking bond values. Argentina has postponed...

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EUROPEAN ECONOMIES: DOUBLE DIGITS DOWN

The economies of Austria, France, Germany, Italy, Spain, Switzerland, and the UK will contract by more than 10 percent if Europe’s economic shutdown lasts two months or longer, according to a new study by the ifo Institute. Austria’s losses over two months of the shutdown are figured at €34 to €57 billion and a loss...

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