So far, there is little evidence that the sell-off in EM financial markets has fed through into a broader tightening of financial conditions. As a result, it is unlikely to have much impact on EM GDP growth. The exceptions are, unsurprisingly, Argentina and Turkey, where the latest developments reinforce our downbeat view on the outlook for both economies.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.