Kudrin called the growing U.S. debt risk for emerging markets
The increase in the U.S. debt threatens to become a risk to the dollar and emerging market currencies, said the head of the audit chamber of the Russian Federation Alexey Kudrin.
"US debt since the beginning of the year increased from 108% to 123% of GDP. For the US, it is not yet critical, but if the trend is not significantly changed, then it will be critical for the dollar and for global market," Kudrin said, speaking on Monday in the Federation Council.
He added that with the level of assurance and stability of the market, which have developed countries, they boldly went to these debts. "But I repeat, if this trend continues, it is emerging risks in the world and for emerging markets, because we are very connected with them", - said the head of the Russian joint venture.
According to Kudrin, at the beginning of 2020, total world debt has reached 322% of world GDP and 2008-2009 increased by 40%.