New Credit Flow to Emerging Markets Gained 47 Percent in 2006, BIS Says

(Bloomberg) -- Emerging markets received $341
billion of new credit inflows in 2006, up 47 percent from a year
earlier as borrowing increased to a record in developing Europe,
according to the Bank for International Settlements.

Investment and lending have boomed in eastern Europe,
pushing up wages and spurring consumer spending, as eight nations
joined the European Union in 2004 and a further two followed this
year. More than 60 percent of new credit to emerging markets went
to European countries in the last three months of 2006, the BIS
said today in a quarterly report.


Read more at Bloomberg Emerging Markets News