RICHMOND, Virginia, Nov. 30 (TNSres) -- The Federal Reserve Bank of Richmond issued the following white paper (No. 24-12) in November 2024 by Marina Azzimonti and Nirvana Mitra entitled "The Politics of Debt in the Era of Rising Rates."

Here are excerpts:

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We examine how the post-pandemic trajectory of risk-free rates--from historically low levels in 2020 to a steep rise in 2022--affects sovereign debt management and default risk in emerging . . .

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