Global appetite for emerging market debt “worrying” -NYT

The New York Times reviewed global appetite for emerging market debt in a piece titled “Why investors can’t get enough of Tajikistan's Debt.” Central bank Governor Tarek Amer says, “Investors are feeling good — we have had USD 20 bn come into Egypt over the past year … The money is pouring in.” Brett A. Rowley, an emerging market bond investor at TCW, was also praising Egyptian debt, having reportedly told Amer “I told everyone: buy more T bills.” The piece, written by Landon Thomas Jr., for some unknown reason, refers to the EGP as the “Egyptian Lira.” He says this appetite for emerging market debt is “worrying global watchdogs” and notes that “developing nations issued a record USD 133 bn in debt … Bankers have forecast another stellar year in 2017, approaching USD 150 bn — an amount that is nearly twice what was raised in 2015.”