The Anatomy of Global Debt
The IMF's new Global Debt Database is an impressive piece of work. And the numbers suggest that the so-called debt intensity of growth has increased: we seem to need higher levels of debt to support a given rate of economic than we did before.
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LONDON – At the end of May, the International Monetary Fund launched its new Global Debt Database. For the first time, IMF statisticians have compiled a comprehensive set of calculations of both public and private debt, country by country, constructing a time series stretching back to the end of World War II. It is an impressive piece of work.