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Global debt at record high of 152 trillion dollars – IMF

Director, Fiscal Affairs Department, IMF, Mr Vitor Gaspar

Director, Fiscal Affairs Department, IMF, Mr Vitor Gaspar

Global debt is currently at a record high of 152 trillion dollars, report released by the IMF showed .

The Director, Fiscal Affairs Department, IMF, Mr Vitor Gaspar at a news conference, Wednesday said the debt was 225 per cent of World Gross Domestic Product.

The report showed that 100 trillion dollars was debt of the private sector, while the remaining was public debt.

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To address the growing problem, the report suggested targeted fiscal interventions in form of government sponsored programmes to help restructure private debt.

“Fiscal policy cannot do it alone – a comprehensive action using all three policy prongs, that is monetary, fiscal and structural policy.”

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