Official: Fin G20 sees global risks in emerging states’ trends

NUSA DUA, Indonesia, Oct 15 (PRIME) -- The Financial G20 emphasized risks of deterioration of the global situation due to the risks on emerging markets, Russia’s Deputy Finance Minister Sergei Storchak told reporters on October 13.

“Many saw risks that due to a clearly emerging trend of debt interest growth for these countries, due to the strengthening of the U.S. dollar against the currencies of these states, due to internal problems in some countries, where populist trends are surging, there is a possibility that their growth rate will fall. These are more probable risks than a trade war,” Storchak said.

The Financial G20 also expressed concern with a rising share of non-banking loans in the structure of both state and corporate debt in emerging and developed economies. The growing debt burden of emerging economies also poses risks for the global economy, the official said.

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