India, Indonesia Can’t Afford To Delay Fiscal Adjustments
When the Fed initially floated the idea of tapering, the impact on emerging markets was more than anyone would have predicted, with a huge August sell-off and weakening currencies in EM Asia. In September, all of those currencies bounced back to some extent as investors took a second look at potential EM growth, but the Indian rupee and Indonesian rupiah have continued to lag. As Deutsche Bank analyst Taimur Baig explains, now is no time for those . . .
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