Emerging market debt trouble? Debt surge weakens resilience

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      <subfield code="a">Emerging markets' sovereign debt is at the highest level for a century after the unprecedented fiscal stimulus to overcome the COVID-19 crisis. The rise in debt weakens sovereign credit ratings as well as heightening economic, political and currency risks, reducing countries' economic resilience. Insurance markets in these countries are particularly exposed to lower insurance demand and weaker investment returns should global financial market sentiment go south. To keep risks in check, recreating emerging markets' fiscal space is key to strengthen resilience.</subfield>
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