The most vulnerable markets are facing a shortage of dollars. Hospitals are cannot perform enough surgeries in Sri Lanka, international flights being suspended in Nigeria (they just had their general election which was very controversial with their opposition saying the election was affected by voter suppression) and car factories are shutting in Pakistan.
In an age where companies are shifting manufacturing and businesses away from China there still seems to be a very selective process going on as not all emerging economies are benefitting equally. With the Blackrock emerging market ETF having the highest levels of short positions held against it in 6 years the prospect in the short term seems to be tough for them. From raw materials to medicines some emerging markets are seriously struggling with this crisis as they all try to chase rescue packages from the IMF. Sri Lanka has set a limit of 20kgs of fuel per person per week to tackle the shortages.
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