# In a co-authored op-ed, Professor Viral Acharya argues that borrowing in foreign currency by emerging market firms may threaten financial stability

1 Faculty News October 7, 2015 ![VoxEU logo ](/sites/default/files/styles/246w/public/assets/images/con_030499.jpg?itok=Qjpc4sQk)>

Excerpt from [Vox](http://www.voxeu.org/article/emerging-economy-corporate-debt-threat-financial-stability) -- "The concern is that this foreign currency cross-border corporate borrowing will put emerging market economy financial systems at risk when the Fed inevitably begins to raise rates."

[Read more](http://www.voxeu.org/article/emerging-economy-corporate-debt-threat-financial-stability)