7 Hrs
Source:
الاقتصادية
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Source: الاقتصادية
7 Hrsالاقتصادية
Source: الاقتصادية
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The buildup of consumer debt in emerging markets reveals the dark side of financial inclusion: digital loans have saddled households in Brazil, Thailand and other Asian countries with debt. Household debt in Thailand is nearing 90% of GDP, while interest rates on unsecured loans in Brazil stand at 62%. A record 29% of disposable household income is going toward debt payments, putting pressure on fintech companies and threatening to slow growth. Although banking systems remain resilient, the article warns of the risks of consumer credit, while noting that financial inclusion can still support growth and reduce poverty when accompanied by caution and oversight.
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