Report: Asian governments keep firms out of debt markets

02/10/2009 | Bloomberg

Private businesses, many facing the need to refinance debt, are being crowded out of debt markets by governments and government-backed financial institutions, according to a report by the Asian Development Bank. Asian governments are likely to engage in extensive borrowing to pay for the $685 billion that they promised to spend on economic-stimulus programs during the next five years, the institution said.

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