Emerging Markets in May Saw Biggest Outflows in 18 Months
- Money pulled from both debt and equity markets in May
- ‘No single driver’ stands out in EM exit, IFI reports
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Foreign investors pulled $12.3 billion from emerging markets last month -- the largest outflow since November 2016, according to the Institute of International Finance.
Both debt and equity markets saw portfolio outflows of about $6 billion. The retreat was led by Asia with an $8 billion drop and Africa and the Middle East with a $4.7 billion outflow.