Financial Times: World debt hits $152tn record, says IMF
Calculation of burden highlights challenge of boosting growth
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.
Levels of borrowing have substantially outpaced global growth in recent years, rising from 200 per cent of gross domestic product in 2002 to 225 per cent last year.
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WNU Editor: And the IMF's answer/solution to handle this debt is to have more debt. Since this is the position of most Western governments (i.e. more debt) .... I do not expect any opposition or disagreements from the central Banks and their governments.
Sighhh .... this is not going to end well.
