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IMF sounds alarm on excessive global borrowing
By Chris Giles
Financial Times, London
Wednesday, April 18, 2018
WASHINGTON -- The International Monetary Fund today sounded the alarm on excessive global borrowing, warning that with a total of $164 trillion owed, the world's public and private sectors are deeper in debt than at the height of the financial crisis a decade ago.
Global debt is now more than twice the size of the value of goods and services produced every year and at 225 percent of global gross domestic product it is now 12 percentage points higher than at its previous peak in 2009.
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The fund said there was now an urgent need to reduce the burden of debt in both the private and public sectors to improve the resilience of the global economy and provide greater firefighting capability if things went wrong. ...
... For the remainder of the report:
https://www.ft.com/content/d4bf2984-42d2-11e8-93cf-67ac3a6482fd
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