The announcement of the launch of Libra, the digital currency that Facebook plans to implement, has sparked interest, concern and, above all, great uncertainty about its viability as a business and its financial and social impact.
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Following a bonanza year in 2017, this year looks like becoming a year of losses for emerging financial markets. Since the beginning of the year these countries’ currencies have depreciated on average by close to 13%, their stock exchanges have fallen by 10% and their risk premiums have increased by nearly 100 bp. Are we on…