Global debt is at historic highs and governments should start cutting levels now, the IMF says


(Worthy News) – Global debt hit its highest levels ever and governments should take actions to reduce their indebtedness while the going is still good, the International Monetary Fund said.

Total debt levels globally came in at a record $164 trillion in 2016, amounting to 225 percent of the world economy’s gross domestic product, according to the IMF’s April Fiscal Monitor. That level of debt was 12 percentage points steeper than the last historic high seen in 2009 immediately after the global financial crisis.

Those findings, taken together with the business cycle upswing, meant that governments should build buffers and cut public debt levels to face “challenges that will unavoidably come in the future,” Vitor Gaspar, director of the fiscal affairs department at the IMF, told CNBC’s Joumanna Bercetche. [ Source: CNBC (Read More…) ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!

Related News Items:

Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News