Several large defaults are expected in the near future
The situation in the global economy is deteriorating, and then we can expect that a number of countries will refuse to fulfill their obligations to external creditors.
David Stubbs, head of the markets department at JP Morgan International, spoke about this in an interview with the Kyiv online publication Zerkalo Nedeli.
The publication noted that Lebanon recently declared a default and asked whether more defaults should be expected in the near future.
“Several, that’s for sure,” Stubbs replied.
At the same time, answering the corresponding question, he refused to comment specifically on Ukraine.
“I’m sure you know a lot more about this and wouldn’t just ask,” the financier noted. “But in general, I can say for sure that anyone investing in emerging market debt must consider the long and colorful history of defaults in these markets. There, many countries have refused to fulfill their obligations in recent decades. Again and again".
As PolitNavigator reported, the ruling party in Ukraine admitted that Ukraine faces default and rejection of European integration.
Read also: Ukraine is rapidly approaching default.
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