Y2K May Prompt Devaluations In Emerging Markets, Says Consultant
YEAR 2000
NEW YORK--Emerging market countries such as Russia and Malaysia could face further currency devaluations next year if regional institutions and governments fail to address the Y2K issue fully, says Philip Kozloff, a risk management consultant.
A lack of adequate preparation for the computer bug could spark a wave of selling in currencies such as the Russian rouble and the Malaysian ringgit, with investors buying into the currencies of countries with a perceived higher degree of readiness, such as
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