The IMF’s EM warning: “During the pandemic, debt accumulated much faster than in the early years of other recessions, including the Great Depression….60 percent of low-income countries are now in, or at risk of, distress”

Sri Lanka and Russia have already defaulted while Egypt, Tunisia, Ukraine, and Belarus are on track to default.

Rising interest rates also dramatically increase the risk of corporate default for borderline solvent businesses.

Prepare your finances for a market correction.

— AKM (@akm515) April 14, 2022