IMF sounds alarm on excessive global borrowing

Section:

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.

... Dispatch continues below ...



ADVERTISEMENT

Cobalt Blockchain Conference Call:
Thursday, April 19, 8-9:30a ET and Friday, April 20, 10-11:30a ET

Each call will consist of a general update and presentation from the company followed by a question-and-answer session. Interested parties may attend the call in person at IBK Capital, 130 King St. West, Suite 640, Toronto, Ontario, Canada) or join via teleconference. Should you wish to participate in the call, please RSVP to cwhite@ibkcapital.com and indicate whether you will join by call or in person.

Here are the teleconference dial instructions.

Canada and United States: 416-621-1587 or (toll-free) 1-877-500-3197.

Chile: 225-994-950 or (toll-free) 800-201-834.

Germany: 030700150716 or (toll-free) 0800-1014-525.

South Africa: 218-197-017 or (toll-free) 0800-990-930.

Switzerland: 043-456-9404 or (toll-free) 0800-700-283.

United Kingdom: 0207-9040-082 or (toll-free) 0800-4960-577.

Access code: 360-451-2#

Here is the Cobalt Blockchain presentation that will be discussed during the teleconference:

https://docs.wixstatic.com/ugd/774c06_d6e2ad0f7e544471853554096969670d.p...



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

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16