US dollar credit to emerging markets growing faster, reveals BIS data
Growth in dollar-denominated debts up 9%, with growth in debt securities even faster
Foreign-denominated credit flows are still on the rise, according to the latest data from the Bank for International Settlements (BIS), with flows to emerging markets showing particularly significant increases.
US dollar credit to non-bank borrowers outside the US hit $11.5 trillion at the end of March, an increase of 7% over the previous year. Credit in euros is also growing strongly, up 10% over the year, though the total is lower at €3.1 trillion ($3.6 trillion).
Dollar credit flows to
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