Sunday, September 26

How covid-19 will generate the largest global public debt in history (and why it is not necessarily a bad thing)

  • Drafting
  • BBC World News


Governments have invested some US $ 12 trillion worldwide to “cushion the blow” from COVID-19.

Countries around the world have applied different strategies to combat the coronavirus pandemic, but almost all have done something in common: increase their public spending to face the health crisis.

In addition to health expenditures, most governments have offered financial assistance to people and businesses economically affected by the paralysis brought on by the pandemic.

In a report on the fiscal situation of the world economy published last October, the International Monetary Fund (IMF) estimated that around the world they have spent about US $ 12 billion in “cushioning the blow” of covid-19.

These fiscal measures “have saved lives and livelihoods,” the agency stressed.

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