Stimulus is not the bulk of debt: Fund’s Lipsky
The crisis would leave "heavy fiscal scars" on government finances, John Lipsky, a first deputy managing director of the International Monetary Fund (IMF), said on Tuesday in Paris.
The average debt-to-output ratio in the advanced countries was set to reach levels equalling 1950, when governments were saddled with the costs of the Second World War. "This surge in public debt is occurring at a time when pressures on health and pension spending are starting to accelerate, reflecting the combined
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