Residents share how early morning walks hold a special charm that sets them apart from any other time of day
"For the emerging markets, the main lesson is that you need to build deep and meaningful financial markets in your own country," the EBRD's chief economist Sergei Guriev told Reuters.
"Otherwise, because of problems in some other country, you may have an external financing shock and you will have a crisis."
It echoes warnings from the likes of the Bank for International Settlements and IMF about countries stacking up too much dollar-denominated debt when the global rush to slash interest rates made it look ultra-cheap.
Now, however, the dollar is rising and countries are having to use more of their reserves to pay the money back. One such country is Turkey, which has seen its currency slump.
"[Turkey has] a high level of dollar debt, a lack of independent decision making by the central bank, a lack of inflation targeting which results in wiping out euro-denominated financial markets, shorting the duration of lira financial instruments and reinforcing this burden of indebtedness," Guriev said. - Reuters
Residents share how early morning walks hold a special charm that sets them apart from any other time of day
The weather has left its mark on the dry terrain, turning them into vibrant oases amidst the sands
Julius Erving, the 11-time NBA All-Star, was also hugely impressed with the facilities in Abu Dhabi
Al Hussaini and Al Housani are expected to compete in Showcase bouts in the inaugural PFL Mena season, before joining next year's season
Boudegzdame has emerged as one of the best fighters in the region
The 54-hole event, supported by The R&A, will be World Amateur Golf Ranking (WAGR) qualifiers
With over 1,000 sixes, batters have completely dominated the IPL
BCL Asia 2024 reach important milestone with partnership agreement between FIBA Regional Office Asia and Shabab Al Ahli Dubai