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9/22, 9:30 AM (Source: TeleTrader)
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BoJ's Kuroda: Evergrande unlikely to be global issue

The debt crisis troubling China's real estate giant Evergrande Group is not likely to spill over and create a global problem, Bank of Japan (BoJ) Governor Haruhiko Kuroda (pictured) noted on Wednesday.

Speaking to the press following the BoJ's monetary policy vote, Kuroda underlined that the Evergrande situation is "unique" to the firm itself, and linked the issue with the state of Beijing's "real estate problem," rather than COVID-19.

Evergrande was estimated to owe approximately $300 billion to investors, which prompted some analysts to liken the company's situation and its potential impact to the so-called Lehmans Brothers liquidity crisis in 2008.

Breaking the News / BU