Emerging markets are on course for 1998-style collapse

Andy Seaman, manager of the Stellar High Yield Fixed Income Hedge Fund at MSG & Partners, is predicting an emerging market crash similar to 1998.

MSG began making its predictions in April and the situation has worsened since then, said Seaman.

'We do not think that most people are aware of how serious things could be if the authorities do not act,' he said.

In 1998, the economic background was broadly the same as now, he explained, but the key point is that capital flows to the US dried up, in a