What are the four foundations of EM bond investing?

To traverse the vast and diverse EM bond market, we believe that the starting point should be assessing a country’s debt sustainability profile. That’s because while debt is a necessary component for financing economic development, it can be an accelerator for distress and a macroeconomic crisis if it becomes unsustainable. In this article, Samy Muaddi outlines how T. Rowe Price conducts country‑specific debt sustainability analysis across emerging markets.