{"id":3076,"date":"2014-12-16T07:02:20","date_gmt":"2014-12-16T12:02:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3076"},"modified":"2014-12-16T07:02:20","modified_gmt":"2014-12-16T12:02:20","slug":"why-1998-was-different-and-same-to-emerging-market-crisis-now-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3076","title":{"rendered":"Why 1998 Was Different, and Same, to Emerging-Market Crisis Now – Bloomberg"},"content":{"rendered":"

Why 1998 Was Different, and Same, to Emerging-Market Crisis Now – Bloomberg<\/a>.<\/p>\n

Oil prices<\/a>\u00a0were tanking. Emerging-market currencies were in a freefall. Venezuela was mired in a financial crisis and\u00a0Russia<\/a>\u00a0had sunk into a debt default and devaluation.<\/p>\n

The year was 1998.<\/p>\n

Emerging markets<\/a>\u00a0today look a lot like they did back then. Yet there have been key changes that could help most of them escape full-blown crises. Here\u2019s a look at the similarities and differences between now and then.<\/p>\n

Similarities<\/h2>\n

*Falling Oil Prices<\/p>\n

Crude has dropped 48 percent since June to about $55 a barrel, squeezing exporters from Venezuela to Russia and Nigeria. Credit default swaps show a 97 percent probability that\u00a0Venezuela<\/a>\u00a0will default on its bonds within five years, according to data compiled by Bloomberg. The Russian economy, which is under sanctions by the U.S. and the European Union over the Ukraine conflict, will contract as much as 4.7 percent next year if oil remains at $60, the central bank said.<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Why 1998 Was Different, and Same, to Emerging-Market Crisis Now – Bloomberg. Oil prices\u00a0were tanking. Emerging-market currencies were in a freefall. Venezuela was mired in a financial crisis and\u00a0Russia\u00a0had sunk into a debt default and devaluation. The year was 1998. Emerging markets\u00a0today look a lot like they did back then. Yet there have been key […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1954,500,501,1775],"class_list":["post-3076","post","type-post","status-publish","format-standard","hentry","category-economics","tag-emerging-market-crisis","tag-market-collapse","tag-market-crash","tag-oil-price-collapse"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3076"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3076\/revisions"}],"predecessor-version":[{"id":3077,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3076\/revisions\/3077"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}