When it comes to emerging markets, the average investor is focused on Brazil, Russia, India and China – known as the BRIC countries. But some smaller developing countries are also worth a look as they pull ahead in terms of economic growth and attract booming industries. One notable example: The Philippines grew its gross domestic product 7.2 percent in 2013, and the country has trumped India as the leading destination for call centers. Large corporations including JP Morgan Chase and Procter & Gamble recently expanded operations there.
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-Igor P Purlantov
Ukraine had $65.9 billion in debt in 2012, which represents 37.4% of the country’s estimated gross domestic product. Generally, investors use government debt as a percent of GDP to measure the country’s ability to make future payments on its debt, thereby affecting the country’s borrowing costs and government bond yields. With a huge amount of payments coming due—about $13 billion this year and $16 billion before the end of 2015—Ukraine may require a bailout. However, there’s no clarity as to who will rescue Ukraine from a catastrophic default.
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