About this work
Current account adjustment did not eliminate emerging markets’ funding pressures at the start of the pandemic. Jonathan Fortun and Sergi Lanau examine debt repayments relative to reserves, highlighting South Africa, Turkey and Ukraine in their April 2020 assessment. They argue that the scale of IMF emergency lending without conditions was too small relative to the financing needs they identified.
Abstract
Current account adjustment did not eliminate emerging markets’ funding pressures at the start of the pandemic. Jonathan Fortun and Sergi Lanau examine debt repayments relative to reserves, highlighting South Africa, Turkey and Ukraine in their April 2020 assessment. They argue that the scale of IMF emergency lending without conditions was too small relative to the financing needs they identified.
Cite this work
Jonathan Fortun, Sergi Lanau (2020). Economic Views: EM Funding Needs in the COVID-19 Shock. Institute of International Finance.