The flow of capital out of China and other emerging markets was significantly worse than previously thought in 2015, according to new estimates.
In a report released yesterday the Washington-based Institute of International Finance said outflows increased as overseas investors pulled out of emerging markets and Chinese companies moved to pay off overseas loans in the final three months of the year amid a weakening renminbi.
Emerging markets saw an estimated $735bn in net capital outflows last year with all but $59bn of that coming from China. In October, the global finance industry group had predicted 2015 would see net outflows from emerging markets of $540bn, the first since 1988.
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