Emerging Markets Economics

Emerging Markets Economics Chart Book

25 May, 2018

EM problems concentrated in Argentina & Turkey

The Argentine Peso and Turkish Lira came under fire this month, prompting policymakers in both countries to aggressively hike interest rates. The two currencies have firmed a bit, but are still down by over 15% on the month. Other EM currencies also weakened against a strengthening US dollar, but by a much smaller degree. This reflects the fact that other EMs’ external financing vulnerabilities are much smaller. The evidence suggests that macroeconomic stresses will also be primarily focused o

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