India's debt-to-reserves ratio raises warning flags at Goldman, Nomura

10/3/2013 | Bloomberg

Goldman Sachs and Nomura Holdings are warning of significant financial risk in India, where the ratio of short-term external debt to currency reserves is at its highest point in more than a decade. "We expect the focus to turn to India's external vulnerability amid a worsening global backdrop. The worst in terms of the quarterly current-account deficit is likely behind us," said Sonal Varma, an economist at Nomura in Mumbai.

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