Devizaadósság

Devizaadósság refers to debt denominated in a foreign currency. This can include loans taken out from foreign financial institutions, bonds issued in foreign currency markets, or trade credit extended in a foreign currency. The primary risk associated with devizaadósság is currency fluctuation. If the domestic currency depreciates against the foreign currency in which the debt is denominated, the cost of servicing and repaying the debt increases significantly in local currency terms. This can lead to financial distress for individuals, businesses, or even governments.

Managing devizaadósság involves strategies to mitigate currency risk. These can include hedging instruments such as forward contracts or options, diversifying currency exposures, or matching foreign currency assets with foreign currency liabilities. For countries, a large amount of devizaadósság can be a source of macroeconomic instability, especially if the country lacks sufficient foreign exchange reserves to meet its obligations. External shocks, such as changes in global interest rates or commodity prices, can exacerbate the challenges of managing foreign currency debt. The phenomenon is common in emerging markets seeking to access international capital for development or investment purposes.