10 years of financial crisis: Ghost of Lehman haunts emerging markets again

The   flood of liquidity that supported the global financial system after the fall of Lehman Brothers has turned into a pain-point for emerging markets (EMs) 10 years later. Tightening liquidity conditions in developed markets (DMs) has raised the spectre of EM outflows, contributing to a rout which has seen the Turkish lira and the Argentine peso fall over 40 per cent and the Indian rupee hit a record low by going past the 72-mark against the dollar. “We believe that the collapse in EM asset prices is driven by uncertainty regarding US monetary policy (a hawk.....

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