The world’s governments, businesses and households owe a record $367 trillion, with calls growing for governments to help cut debt levels.
The world’s governments, businesses and households have been urged to wind back their debt levels for fear of risking the global economy after the International Monetary Fund revealed borrowers owe a record $367 trillion.
“Policymakers will need to be unwavering over the next few years in their commitment to preserving debt sustainability,” it said. “Reforms to labor and product markets that boost potential output at the national level would support that goal. International cooperation on taxation, including carbon taxation, could further alleviate pressures on public financing.”
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