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(From Asia Pulse)
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SINGAPORE, July 30 /Xinhua-PRNewswire-AsiaNet/ -- Lehman Brothers, the global investment bank, issued a third quarterly update to its proprietary Damocles Early Warning System, which helps identify the risk of external financial crises in 17 emerging market economies. The latest Damocles results suggest that external risks in emerging markets are well contained.
For June 2004, the most recent month measured, Damocles assigned ratings ranging from zero (Thailand, Indonesia, Poland, Mexico) to 49 (Argentina) with no country currently breaching the initial 75 threshold, which indicates a 1-in-3 chance of an external financial crisis within the next 12 months. A lower score signals a better position in relation to an external financial crisis.
The simple average Damocles score …