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Emerging Markets Capital Flows Monitor (Jun. 2025)

Capital inflows into EMs held up well in June despite the escalation of conflict in the Middle East. Were higher US tariffs to come into force after President Trump’s 90-day reciprocal tariff reprieve ends, that could spur a bigger move in outflows. But most EMs would be well-placed to cope with a period of outflows, with Argentina and Egypt the exceptions.

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