{"id":597874,"date":"2019-05-07T03:31:34","date_gmt":"2019-05-07T03:31:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/interest-burden-on-em-governments-grows-dramatically-amid-borrowing-spree\/"},"modified":"2019-05-07T03:31:34","modified_gmt":"2019-05-07T03:31:34","slug":"interest-burden-on-em-governments-grows-dramatically-amid-borrowing-spree","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/interest-burden-on-em-governments-grows-dramatically-amid-borrowing-spree\/","title":{"rendered":"Interest burden on EM governments grows dramatically amid borrowing spree"},"content":{"rendered":"

<\/a> EM governments face dramatically higher interest burden amid borrowing spree:<\/b> Interest owed by emerging-market governments has risen dramatically over the past decade as borrowing levels soar, the FT writes<\/a>. Statistics published by the Institute of International Finance (IIF) shows that debt-to-GDP levels among developing economies has risen to 49.7% in 2019 from 34% in 2008. Total debt owed by emerging markets has risen more than 500% since 2002. As of this year, EM governments are USD 15 tn in debt, up from just USD 2.9 tn 17 years ago. \u201cThe dramatic increase in the stock of government debt over the past decade has resulted in a big jump in government interest expenses in some jurisdictions which could mean more pain for future taxpayers while crowding out vital public investment,\u201d Emre Tiftik, deputy director of global policy initiatives at the IIF, said.<\/p>\n

Worryingly, these figures don\u2019t include off-balance sheet liabilities<\/b> such as pensions, public \/ private partnerships and credit guarantee programs. \u201cWhen you incorporate those, these figures might become more scary,\u201d Tiftik said.<\/p>\n

It\u2019s not so bad for Egypt, according to the IMF\u2019s crystal ball:<\/b> Egypt\u2019s debt-to-GDP ratio is set to decline over the coming years, despite a substantial rise in interest payments, according to IMF forecasts released in April<\/a>. The government\u2019s interest bill is projected to rise by around EGP 140 bn to EGP 575.7 bn between fiscal years 2017-18 and 2022-23. However sustained economic growth will mean that our debt interest-to-GDP ratio will fall to 6.0% from 9.9% over the same period.<\/p>\n","protected":false},"excerpt":{"rendered":"

EM governments face dramatically higher interest burden amid borrowing spree: Interest owed by emerging-market governments has risen dramatically over the past decade as borrowing levels soar, the FT writes. Statistics published by the Institute of International Finance (IIF) shows that debt-to-GDP levels among developing economies has risen to 49.7% in 2019 from 34% in 2008. […]<\/p>\n","protected":false},"author":1,"featured_media":597875,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[7106,115,72,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-debt","tag-emerging-markets","tag-enterpriseam","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"1309efe4-75fb-40d3-916a-8fab7c0fea97","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/5\/1569.jpg","photo_position":"above","related_issue":[597859],"teaser":"","voice_url":""},"yoast_head":"\nInterest burden on EM governments grows dramatically amid borrowing spree - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/interest-burden-on-em-governments-grows-dramatically-amid-borrowing-spree\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest burden on EM governments grows dramatically amid borrowing spree\" \/>\n<meta property=\"og:description\" content=\"EM governments face dramatically higher interest burden amid borrowing spree: Interest owed by emerging-market governments has risen dramatically over the past decade as borrowing levels soar, the FT writes. 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Corporate, household and public sector debt all fell during\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/2161.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569332,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/fears-rise-as-african-governments-amass-record-breaking-debt\/","url_meta":{"origin":597874,"position":3},"title":"Fears rise as African governments amass record-breaking debt","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"African governments amass record-breaking debt, raising concerns on repayment: African countries have amassed FX-denominated sovereign debts at a record rate over the past few years, fueling concerns that some governments will struggle to repay these debts as they mature during the next decade, reports the Financial Times. The borrowing frenzy\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/267.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570535,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/an-emerging-market-credit-crisis-is-looming-in-spite-of-the-feds-repo-facility\/","url_meta":{"origin":597874,"position":4},"title":"An emerging market credit crisis is looming in spite of the Fed\u2019s repo facility","author":"enterpriseam admin","date":"5 April 2020","format":false,"excerpt":"An emerging market credit crisis is looming as an increasing number of countries are struggling to repay their debts amid the economic fallout from covid-19, the Financial Times reports. The scale of the pandemic has triggered widespread funding pressures despite many countries now having more tools to withstand economic shocks\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/32.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580370,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/soaring-global-debt-is-about-to-get-expensive\/","url_meta":{"origin":597874,"position":5},"title":"Soaring global debt is about to get expensive","author":"enterpriseam admin","date":"21 December 2022","format":false,"excerpt":"After years of cheap borrowing, the global debt pile is growing increasingly unsustainable \u2014 especially for developing countries: A decade of cheap borrowing has led to a whopping global debt pile of USD 290 tn for households, businesses and governments, up by more than one-third from a decade ago, according\u2026","rel":"","context":"In "Macro picture"","block_context":{"text":"Macro picture","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/766.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=597874"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597874\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597875"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597874"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597874"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}