Emerging Market Nonfinancial Corporate Debt: How Concerned Should We Be?
Daniel Beltran (),
Keshav Garud and
No 2017-06-01, IFDP Notes from Board of Governors of the Federal Reserve System (U.S.)
Nonfinancial corporate (NFC) debt in emerging market economies (EMEs) has tripled since the global financial crisis (GFC), reaching roughly $25 trillion, or 112 percent of GDP, in mid-2016. In this note, we assess corporate vulnerabilities by looking at two common metrics related to debt-servicing capacity: leverage (the ratio of debt to equity), and the interest coverage ratio (the ratio of earnings to interest expense).
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