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How the war in Ukraine is affecting debt troubles for developing countries

"Yeah, the war in Ukraine is having a lot of spillovers to the rest of the world, and some emerging markets are particularly vulnerable to the spillovers. One, and perhaps the most obvious, is that we’ve seen a big rise in commodity prices, particularly oil, but also food prices. And for countries that are very dependent on imports of these goods, that’s raising the cost of their imports. That’s meaning they need more hard currency to be able to finance that. That’s putting pressure on their currencies."
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