{"id":601759,"date":"2019-03-10T03:56:31","date_gmt":"2019-03-10T03:56:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/10\/em-should-be-prepared-for-an-incoming-storm\/"},"modified":"2019-03-10T03:56:31","modified_gmt":"2019-03-10T03:56:31","slug":"em-should-be-prepared-for-an-incoming-storm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/10\/em-should-be-prepared-for-an-incoming-storm\/","title":{"rendered":"EM should be prepared for an incoming storm"},"content":{"rendered":"

<\/a> Emerging markets should brace for an incoming storm: <\/b>History tells us that every monetary tightening cycle by the US Federal Reserve is followed by something getting broken in the global economy. With a storm currently brewing, emerging markets should take the necessary precautions to avoid being the victims, former Mexican finance minister Jos\u00e9 Antonio Gonz\u00e1lez writes for the FT<\/a>. The Fed began a tightening cycle in 2015 that has so far involved nine hikes \u2014 and more may be on the horizon. Higher US interest rates have preceded several financial crises in the past. \u201cA looming recession or deceleration in advanced economies will lower export demand, which, coupled with trade tensions, will probably cause commodity prices to fall, hurting export-dependent emerging market economies,\u201d Gonz\u00e1lez writes. \u201cRising interest rates in the developed economies will cause capital flow reversals.\u201d<\/p>\n

So what should EM do to ward off a potential shock?<\/b> \u201cThere are no magic bullets. The best course of action is to make sure the basic macroeconomic indicators are in order,\u201d Gonz\u00e1lez says. He suggests that governments should narrow (or eliminate altogether) fiscal deficits, shift to local borrowing, borrow with longer maturities and fixed rates, and balance their external accounts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Emerging markets should brace for an incoming storm: History tells us that every monetary tightening cycle by the US Federal Reserve is followed by something getting broken in the global economy. With a storm currently brewing, emerging markets should take the necessary precautions to avoid being the victims, former Mexican finance minister Jos\u00e9 Antonio Gonz\u00e1lez […]<\/p>\n","protected":false},"author":1,"featured_media":601760,"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":[115,72,1510,388],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-emerging-markets","tag-enterpriseam","tag-the-macro-picture","tag-us-federal-reserve","wpautop","entry"],"acf":{"mongo_id":"3756f3d4-f451-4072-88c0-a7c3818730a6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/3\/2447.jpg","photo_position":"above","related_issue":[601741],"teaser":"","voice_url":""},"yoast_head":"\nEM should be prepared for an incoming storm - 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\/03\/10\/em-should-be-prepared-for-an-incoming-storm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EM should be prepared for an incoming storm\" \/>\n<meta property=\"og:description\" content=\"Emerging markets should brace for an incoming storm: History tells us that every monetary tightening cycle by the US Federal Reserve is followed by something getting broken in the global economy. 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That strength is problematic for emerging markets and the global economy at large. 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