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People with their empty cooking gas cylinders wait for a truck carrying replacements on a street at Noida in the northern Indian state of Uttar Pradesh January 27, 2011.
People with their empty cooking gas cylinders wait for a truck carrying replacements on a street at Noida in the northern Indian state of Uttar Pradesh January 27, 2011.
(Parivartan Sharma/Reuters)

Energy subsidies weigh heavily on emerging markets

If you want another reason not to quickly put your money back into emerging markets, you should think about the cost of energy. The falling value of currencies, such as the Indonesian rupiah, the Turkish lira and the Indian rupee, has sharply increased energy bills and for many emerging market governments, it is worsening the already massive burden of subsidising fuel.