Private Creditors Crucial to Emerging Markets’ Debt Relief

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Low-income countries, seeking delays or forgiveness on their debt obligations as they face the threat of defaults, are likely to find private bondholders hard to negotiate with, according to investors

Asset-management firms, hedge funds and other private bondholders hold almost 36% of external public-sector debt in emerging markets on average, according to a

Wall Street Journal analysis of 2018 data from Fitch Ratings, the World Bank and Haver Analytics. That was up from about 18% a decade earlier and was mirrored...

 

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