Audio By Carbonatix
Rating agency Moody’s Investor Service said on Wednesday a strengthening US dollar since mid-April has increased the credit risk of several emerging markets due to currency depreciation.
A Moody’s report said a strong dollar would also lead to a drop in foreign exchange reserves of countries such as Argentina, Ghana, Mongolia, Pakistan, Sri Lanka, Turkey, and Zambia.
Chile, Colombia, Indonesia, and Malaysia are not vulnerable in the near term, the report said.
“Countries with large current account deficits, high external debt repayments and substantial foreign-currency government debt are most exposed to the impact of a stronger US dollar,” Moody’s Global Managing Director of the Sovereign Risk Group Alastair Wilson said.
Brazil, China, India, Mexico and Russia are the least vulnerable as they are less dependent on external capital inflows, the report said
Latest Stories
-
Managing Chronic Constipation in Adults: New evidence-based dietary guidance
25 seconds -
Ghana Shippers Authority acquisition of ICT materials: The facts as we have found
6 minutes -
Freddie Blay granted GH¢800k bail in Kitase demolition case
13 minutes -
KAIPTC hosts Western Regional dialogue on illegal mining
19 minutes -
GAF denies enlisting injured El-Wak victims into military training
28 minutes -
PBC’s financial crisis leaves cocoa farmers in limbo – Minority Whip alleges
33 minutes -
Mahama commissions Kalsoume Sinare Baffoe as Ghana’s Ambassador to Spain
34 minutes -
Yango Ghana expands delivery services to Kumasi enhancing earnings for partner couriers
41 minutes -
Western Regional Minister urges strategic action against galamsey menace
1 hour -
From audit rooms to global budget governance: How Mirabel Afeke’s work reflects global reach of Ghanaian accounting expertise
1 hour -
Asante Akyem South assembly distributes 300 shoes to deprived pupils
1 hour -
Mahama orders review of pension system to expand informal sector coverage
1 hour -
War and climate: Israel-Gaza conflict produced over 30 million tons of carbon emissions – Study
1 hour -
New Nkwakwanua health centre opens to replace facility plagued by years of challenges
1 hour -
Minority says PURC utility cuts too small, urges deeper reductions for consumers
1 hour