Example of a multinational corporation

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For the last decade or so, emerging market governments and corporations have taken advantage of lower interest rates in the developed world and borrowed money in a hard currency, especially in US dollars or Euros. Under what circumstances could foreign currency denominated debt (even with a low interest rate) backfire?

Based on your readings provide an example of a multinational corporation or government that had borrowed money in a foreign currency and had difficulties in paying it back.

Reference no: EM133066558

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