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Is This the Seed of a Global Financial Crisis?
Frilanke is widely seen as a harbinger of other risks around the world. World bank, i m f and uen development program have all warned of an impending wave of debt crises. Fragile economies with large debts face triple hit of rising interest rates, rising food prices and rising oil prices. No one thinks this is going to be like the latin american debt crisis of the 19 eighties.