TOKYO -- The sharp decline of Asian currencies has sparked concerns within global financial markets over rising debt burdens among regional governments and corporate borrowers.
Philippines, Indonesia, Thailand, South Korea see credit default swap rates climb

Several Asian currencies have declined by 10% or more since the end of March. (Photo by Akira Kodaka)
TOKYO -- The sharp decline of Asian currencies has sparked concerns within global financial markets over rising debt burdens among regional governments and corporate borrowers.