Sustained falls in emerging-market currencies and stocks have been painful for investors. Several countries have raised interest rates to stem capital outflows.

新兴市场货币和股价的持续下跌一直是投资者的痛处。一些国家提高了利息以阻止资本流出。

The $96bn investors have already withdrawn from emerging-market stocks and bonds dwarfs past capital outflows, according to the Institute of International Finance, an industry group.

根据行业组织国际金融协会的数据，960亿美元的投资者已经从新兴市场股市和债市撤资，令过去的资本外流相形见绌。

Some analysts fear a repeat of 2015, when a poorly executed devaluation of the yuan provoked capital outflows that further undermined the currency.

一些分析师担心 2015 年的情况会重演，当时人民币贬值执行不力引发资本外流，进一步削弱了人民币汇率。

GFI’s new report says that in 2011, some $947 billion was taken out of these countries through what it calls illicit capital outflows.

GFI 的新报告称， 2011 年， 通过所谓的非法资本外流从这些国家流出约 9470 亿美元。

The IMF told emerging economies to prepare for the Fed's policy tightening, warning that faster rate increases could unsettle global markets, and may lead to capital outflows and currency depreciation in those countries.

国际货币基金组织告知新兴经济体为美联储的政策收紧做好准备，并警告称，更快的加息可能会扰乱全球市场，并可能导致这些国家的资本外流和货币贬值。