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Energy shock could spark Asia’s next debt crisis

South China Morning Post - World ·
Energy shock could spark Asia’s next debt crisis

A country need not run out of money to find itself in a debt crisis.

It only has to run short of US dollars to pay for its energy.

At the recent International Monetary Fund-World Bank annual meetings in Bangkok, the IMF, which expects global economic growth of 3.1 per cent this year and 3.4 per cent the next, cautioned that energy-importing and lower-income economies face a harder road, even as those riding the artificial intelligence boom fare relatively well.

According to the World Bank’s...

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