IMF finds persistent debt overhang in Baltic countries
An IMF paper published on Wednesday assesses the risk of private-sector debt overhang in the Baltic states, with the effects most significant in Estonia and Latvia.
Valerie Herzberg, the paper's author, says that from 2000 to 2007, nonfinancial private sector credit expanded rapidly in the Baltic countries, resulting in a non-negligible build-up of debt. Herzberg investigates whether the resulting debts held back the economic recovery in the region by analysing the setting in each of the three
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