Lagarde warns of ‘wartime level’ debt
News On Japan via Japan Times — Oct 13
Cutting public debt while encouraging economic growth will be vital in stabilizing the global economy, which is showing a slower than expected recovery, International Monetary Fund Managing Director Christine Lagarde said Friday.
Speaking at the annual plenary meeting of the IMF and World Bank Group in Tokyo, Lagarde stressed that “reducing public debt is very difficult without economic growth.”But she also warned that public debt in advanced economies is reaching “pretty much wartime levels.”
Governments in such nations must walk a “narrow path” and work on curbing their bloated debt while not hampering economic growth, Lagarde said.
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