9. There is one Economist article that was suggested as a useful reading. (Korea

Question

9. There is one Economist article that was suggested as a useful reading. (Korea University subscribes to this magazine.) Below is the quote from that article. Please fill in the blanks. https://www.economist.com/news/finance-and-economics/21725777-basket-cases-frontier- economies-how-about-phoenixes-how-crisis-hit-economies) Start with the ashes. Circumstances will differ from country to country but the general pattern is quite similar. The economy hits a financial constraint: sometimes it is the more often the Investors become loth to offer financing. -. currency is or-worse-capital Interest ratesThe flow of foreign capital begins to . The down to sustain the illusion that foreign-exchange reserves are run -' Reserves grow thin. Hard currency is creating The economy falters.

Explanation / Answer

Answered in order of blanks:

1.budget deficit

2.trade deficit

3.shoot up

4.dries up

5.flee

6.propped up by intervention

7.it is worth more than it really is

8.rationed

9.shortages of essential imports.

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