Opinion
Where surging debt levels will lead developed economies
Will these bring increased interest rates? Or is Japan’s experience, which saw rising indebtedness accompanied by falling yields, the more likely outcome?
Nathan SheetsContributorThe pandemic has unleashed surging levels of public indebtedness as countries around the world have sought to stimulate spending and protect their economies from longer-term damage.
The International Monetary Fund projects that by year-end, the government debt loads in many developed market economies – including the United States, the United Kingdom, Italy, Japan and Australia – will have risen by 25 per cent of GDP since the pandemic erupted.
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