Janet Yellen Ron Sachs/ZumaPress

Готовы к повышению учетной ставки в США?

МАНИЛА – Вероятность того, что впервые за десятилетие Федеральная резервная система США может повысить учетную ставку, заставила нервничать рынки развивающих стран на протяжении нескольких недель. Пока что ФРС решила не менять ставку, но при этом было заявлено, что вопрос о её повышении в 2015 году ещё будет рассматриваться. Причина беспокойств в том, что страны, которые зависят от иностранного финансирования, могут пострадать из-за резкого оттока международных капиталов, а также из-за девальвации валюты, которая последует за решением ФРС и приведет к росту стоимости обслуживания долгов как государства, так и бизнеса.

Правительства стран развивающегося мира поступили бы намного разумней, если бы меньше беспокоились об изменениях процентных ставок в США (ведь в любом случае, они не в состоянии их контролировать), а больше думали о необходимых изменениях, которые они способны совершить в своей стране для повышения устойчивости экономики.

Рост процентных ставок в США необязательно является плохой новостью для развивающихся стран. Многие развивающиеся страны – особенно в Азии – находятся в гораздо лучшей макроэкономической форме, чем они были накануне азиатского финансового кризиса конца 1990-х или в начале мирового финансового кризиса 2008 года.

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