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Debt soars as Belarus seeks IMF bailout

China Daily | Updated: 2008-10-24 08:18

Developing nations' borrowing costs jumped to the highest in six years as Belarus joined governments seeking a bailout from the International Monetary Fund to help weather the credit crisis and slump in commodities.

The extra yield investors demand to own emerging-market government bonds instead of US Treasuries rose 24 basis points to 8.26 percentage points, the most since November 2002, according to JPMorgan Chase & Co's EMBI+ index.

The annual cost to protect Russia's bonds from default soared to 10.5 percent of debt insured, from 9.5 percent on Tuesday, according to credit-default swap prices from CMA Datavision.

Debt soars as Belarus seeks IMF bailout

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