Author Topic: Report on Global Debt - The 16th Geneva Report  (Read 694 times)

John Short

  • Global Moderator
  • PFM Member
  • *****
  • Posts: 558
Report on Global Debt - The 16th Geneva Report
« on: October 07, 2014, 08:30:41 GMT »
The Report provides an in-depth analysis of the role of debt dynamics in the recovery from the global crisis.  It is clear in its outlook: the policy path to less volatile debt dynamics is a narrow one, and it is already clear that developed economies at least must expect prolonged low growth or another crisis along the way.  Interest rates will have to stay low for a long time or the world economy could crumble under mounting debt loads.


harnett

  • Global Moderator
  • PFM Member
  • *****
  • Posts: 204
    • REPIM
Re: Report on Global Debt - The 16th Geneva Report
« Reply #1 on: October 11, 2014, 18:29:58 GMT »
Interesting report.  I was pretty staggered by the opening paragraph which asserts "The crisis affected mainly developed economies".  That doesn't square with my experience.  Again we see the push for a fiscal stimulus, which I hope Osborne et al take on board. 

For our work in developing countries though, I was more interested in "A sharp rise in lending to the world’s poorest countries will leave them with crippling debt payments over the next decade, a few years after many had loans written off, a report has warned." (Guardian Friday 10th October 2014).  This report can be found here:  http://jubileedebt.org.uk/wp-content/uploads/2014/10/Lending-boom-research_10.14.pdf

Of added interest is the following article which outlines the alternative to borrowing from the World Bank/IMF, to quote:

 "This past summer, the BRICS countries—Brazil, Russia, India, China and South Africa—created an alternative to the largely U.S. controlled World Bank and International Monetary Fund (IMF), and the Shanghai Cooperation Organization (SCO) added 1.6 billion people to its rolls.

The BRICS construction of a Contingent Reserve Arrangement will give its member’s emergency access to foreign currency, which might eventually dethrone the dollar as the world’s reserve currency. The creation of a development bank will make it possible to by-pass the IMF for loans, thus avoiding the organization’s onerous austerity requirements."

http://www.internationalpolicydigest.org/2014/10/08/brics-sco-let-thousand-poles-bloom/
« Last Edit: October 16, 2014, 14:20:55 GMT by Napodano »

John Short

  • Global Moderator
  • PFM Member
  • *****
  • Posts: 558
Re: Report on Global Debt - Revisited
« Reply #2 on: September 14, 2023, 08:46:21 GMT »
Recent IMF Blog on Debt

Question is are we back to the future of the past with interest rates returning to "normality"?

"Despite the economic growth rebound from 2020 and much higher-than-expected inflation, public debt remained stubbornly high. Fiscal deficits kept public debt levels elevated, as many governments spent more to boost growth and respond to food and energy price spikes even as they ended pandemic-related fiscal support.

As a result, public debt declined by just 8 percentage points of GDP over the last two years, offsetting only about half of the pandemic-related increase, as shown in our latest Global Debt Monitor. Private debt, which includes household and non-financial corporate debt, declined at a faster clip, dropping 12 percentage points of GDP. Even then, the decline was not enough to erase the pandemic surge."

https://www.imf.org/en/Blogs/Articles/2023/09/13/global-debt-is-returning-to-its-rising-trend?

Also 2023-09-2023-global-debt-monitor.pdf on imf.org

 

RSS | Mobile

© 2002-2024 Taperssection.com
Powered by SMF