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Oil Collapse Could Push Down Emerging Country Markets, Particularly Mexico

RIO DE JANEIRO, BRAZIL - The news has worsened for a number of emerging markets in recent hours. With the collapse of oil prices, the pressure on currencies and the fiscal position of countries like Brazil and Russia has increased. However, among the emerging commodity producing countries, the one that most concerns analysts is Mexico.

Emerging markets outside China had outflows in March that surpassed those of the 2008 global financial crisis as investors fled from riskier assets amid the uncertainty triggered by the coronavirus pandemic. Currencies retreated. These factors pushed these markets, which were already struggling with slow growth, rising . . .

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