Emerging markets risk ‘quantitative tightening’, Caruana says
Policy-makers’ response to emerging market problems inadequate, Caruana says
Problems now affecting emerging market economies are not "just a series of idiosyncratic shocks", but a continuation of major problems and inadequate responses in the global economy, according to Jaime Caruana, general manager of the Bank for International Settlements.
Caruana said in a speech at the annual meeting of the International Monetary Fund on October 6 – a transcript of which has just been released – that current emerging market problems were "the next reel of the movie we have been
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