'A major headwind against the global recovery and a risk to financial stability'
(Financial Times) The world is $152tn in the red — a record-breaking level of debt, according to the International Monetary Fund.
The figure, more than two times the size of the global economy, comes from the fund’s latest Fiscal Monitor and is, officials claim, the most accurate measure of the world’s debt burden ever calculated.
“Global debt is at record highs and rising,” said Vitor Gaspar, director of fiscal affairs at the fund.
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2 comments:
Unilateral debt forgiveness on a worldwide scale perhaps?
With all this debt, who is this money owed to? What Ponzi scheme did the government fall into and who's pocket is getting fatter?
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