Global debt hits all-time high of $152 trillion as IMF warns of world-wide economic stagnation
Tim Wallace
Telegraph.co.uk
5 OCTOBER 2016
Global debt has hit a record high of $152 trillion, weighing down economic growth and adding to risks that recovery could turn into stagnation or even recession, the International Monetary Fund has warned.
In a worst-case scenario the IMF also fears that a wave of populist politics across the US and Europe could send globalisation into reverse with protectionist policies hitting international trade, investment and migration, sending the world plunging into a prolonged period of stagnation.
The warning came after the IMF cut its growth forecasts for a series of countries around the world, leaving Britain the fastest growing economy in the G7.
It is urging governments to help troubled banks in the worst-affected parts of Europe, spend more money on boosting economic growth where possible, and reform economies to increase GDP – as well as pushing to keep borders as open as possible.
The Rest…HERE
