India, Indonesia among Asia’s most debt-risky nations, says Bloomberg report
Hours before Prime Minister Narendra Modi set his foot on Indonesia in his first visit to that country as the premier, Bloomberg came up with a report saying India and Indonesia are among Asia's worst-hit Asian currencies this year.
"It's no surprise that India and Indonesia are among the worst-hit Asian currencies this year when you look at their foreign debt exposure and the level of reserves they have to cover that," the report said.
It said Moody's Investors Service's external vulnerability index - puts Indonesia at 51 per cent and India at 74 per cent. External vulnerability index is the ratio of short-term debt, maturing long-term debt and non-resident deposits over a year calculated as a proportion of reserves.
The report added that Malaysia and the Philippines are the odd economies out with Malaysian currency ringgit gaining this year while the Philippines has a low foreign exposure but a currency which is the second worst-doer in Asia.