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7/2/20: Mapping Real Economic Debt: BRICS

Summary:
Some great charts on real economic debt, via IIF, with my highlighting of the BRICS economies:First off, mapping corporate debt and government debt as a share of GDP:  China is an outlier within the BRICS group when it comes to corporate debt.  Chart above shows how dramatic has been deleveraging out of FX-denominated debt in Russia over the last decade. Much of this came from the reduction in US Dollar-denominated exposures. Lastly, the chart above showing changes in the US Dollar-denominated debt quality (by corporate ratings). Again, Russia is a positive stand-alone in this, with more positive outlook than negative outlook corporates - a trend strikingly different from both the Emerging Markets overall, and for other BRIC economies.

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Some great charts on real economic debt, via IIF, with my highlighting of the BRICS economies:

First off, mapping corporate debt and government debt as a share of GDP:

7/2/20: Mapping Real Economic Debt: BRICS

 China is an outlier within the BRICS group when it comes to corporate debt.

7/2/20: Mapping Real Economic Debt: BRICS
 Chart above shows how dramatic has been deleveraging out of FX-denominated debt in Russia over the last decade. Much of this came from the reduction in US Dollar-denominated exposures.

7/2/20: Mapping Real Economic Debt: BRICS

Lastly, the chart above showing changes in the US Dollar-denominated debt quality (by corporate ratings). Again, Russia is a positive stand-alone in this, with more positive outlook than negative outlook corporates - a trend strikingly different from both the Emerging Markets overall, and for other BRIC economies.

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