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Turkey’s woes could be just the start as record global debt bills come due

Ten years after the worst financial panic since the 1930s, growing debt burdens in key developing economies are fueling fears of a new crisis that could spread far beyond the disruption sweeping Turkey.

The loss of investor confidence in the Turkish lira, which has surrendered nearly 40 percent of its value this year, is only a preview of debt problems that could engulf countries such as Brazil, South Africa, Russia and Indonesia, some economists say.

"Turkey is not the last one," said Sebnem Kalemli-Ozcan, an economics professor at the University of Maryland. "Turkey is the beginning."

By David J. Lynch

https://www.washingtonpost.com/business/economy/turkeys-woes-could-be-just-the-start-as-record-global-debt-bills-come-due/2018/08/28/f9f144c6-a231-11e8-8e87-c869fe70a721_story.html?utm_term=.68d8d73aa233

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