Yes, some export companies that borrow dollars also earn dollars. But they are in the minority, and even they can have problems, because depreciation reduces the dollar value of their domestic assets, causing breaches in loan covenants and potentially impairing access to credit.
乐观者还指出，一些本地借款人天然对冲了风险。诚然，一些借入美元的出口公司也赚取美元。但它们是少数，而即使是它们也可能会有问题，以往内贬值降低了它们的本币资产的美元价值，导致违反贷款契约的情况，并有可能让它们无法获得信用。