Pay Debt or Feed People Is Hungry Nations’ Impossible Choice
- Sri Lanka’s default has traders on alert for further distress
- Emerging stock, bond and currency markets have plunged
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After Sri Lanka defaulted on its debt, Jack McIntyre, a portfolio manager at Brandywine Global Investment Management, started watching rice and grain prices more closely.
For a swath of the markets he’s tracking, global food shortages are presenting governments with a stark choice -- pay their debts or feed their people.