Atish R. Ghosh, Jonathan D. Ostry, Mahvash S. Qureshi
Non-financial corporations in emerging market economies (EMEs) increasingly rely on foreign currency debt for financing. Since the global crisis of 2008, the amount of dollar-denominated debt of EME corporations has quadrupled.
1 Research has shown that interest rate differentials between EMEs and the US have contributed significantly to this phenomenon (Bruno and Shin 2017). In essence, EME corporations prefer to borrow in foreign currency when there is a ‘carry’, meaning foreign interest rates are low relative to domestic interest rates. This carry trade borrowing leaves the firms exposed to sudden stops in capital flows and associated currency depreciations (Bruno and Shin 2020). More broadly, the accumulation of external debt on private balance sheets can lead or contribute to currency depreciation spirals and thereby poses risks for EME growth and financial stability (Acharya et al. 2015, Du and Schreger 2017). These i
In my 20-plus years in Canada’s IT industry, I have witnessed several incredible changes. The way we do business has shifted, particularly in what is now an even more digital-first world. The IT industry is highly influential and shapes much of how business, and the world, works. As I know well from years in the channel and now working with our Canadian partners, solution providers play a key role in helping businesses of all sizes modernize and transform.
As we lead the way on business transformation, we also have an unmissable opportunity to be leaders on diversity, equity, and inclusion (DEI). The past year – including the global movement for racial justice – has been a poignant reminder for businesses that social, environmental, economic, and cultural issues are all intertwined. Purpose-driven action is not only the right thing to do but is unquestionably linked to business success.
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Turkey claims it no longer needs Canadian military drone tech
Stung by the federal government’s decision to ban the export of state-of-the-art Canadian drone optics and targeting systems to Turkey, the country’s largest drone producer says Turkish arms manufacturers have developed their own technology and no longer need the Canadian devices.
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Turkey claims it no longer needs Canadian military drone tech rcinet.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rcinet.ca Daily Mail and Mail on Sunday newspapers.