As the shortage of dollars sweeps the globe, cracks are starting to show up in Asia’s emerging markets, despite the hefty foreign-reserve cushions built up over the years.
The squeeze on U.S. currency is putting pressure on emerging Asia debt. Southeast Asian and Indian government and corporate payments are set to jump 67% in 2022 to $41.9 billion, according to data compiled by Bloomberg. Dollar payments are expected to peak at $44.4 billion in 2024.
