The global economy is entering a decade of “tepid growth” and “popular discontent,” Kristalina Georgieva, managing director of the International Monetary Fund (IMF), warned in an 11 April speech to the Atlantic Council.
Tag: debt
Post
WE ARE IN A DEBT, DEATH, SPIRAL. AND IT’S NO ACCIDENT.
Let’s cut to the chase. The current skyrocketing global debt crisis is worsening rapidly.
Post
USE OF ONLINE LAYAWAY PLANS UP 17 PERCENT THIS YEAR
Online shoppers’ use of layaway or “buy now pay later” plans (BNPL) has jumped 17 percent since 1 November to a record $10.1 billion as household savings have fallen below pre-COVID levels, the Financial Times reported.
Post
INTEREST PAYMENTS ARE EATING GOVERNMENT BUDGETS
After piling up debt to fund COVID-era stimulus programs and health care costs, the world’s national governments will pay an additional $2 trillion in interest this year, according to data compiled by the International Monetary Fund and analyzed by research firm Teal Insights.
Post
HIGH U.S. INTEREST RATES SPARK “CRISIS” AMONG EMERGING NATIONS
Many emerging nations are being thrown into a “silent debt crisis” by high interest rates in the U.S., the World Bank has warned.
Post
U.S. DEBT NOT SUSTAINABLE
The U.S. government’s $33-trillion debt is the result of “unsustainable” fiscal policies, the International Monetary Fund (IMF) has warned, and is the “most worrying” among the world’s major economies, IMF research director Pierre-Olivier Gourinchas said in a 3 October press briefing.
Post
CREDIT CARD COMPANIES PILING UP LOSSES AT FASTEST RATE IN 30 YEARS
Aside from the early days of the Great Recession, credit card issuers are seeing their losses mount at the fastest rate since the mid-1990s, CNBC reported.
Post
GLOBAL DEBT SETS RECORD AT $307 TRILLION
The amount of money owed by governments, businesses, households, and individuals grew by $10 trillion in this year’s first half to a record $307 trillion, the Institute of International Finance (IIF) said in a 19 September report.
Post
AMERICANS SINKING INTO DEBT
Americans have charged a record $1 trillion to credit cards and other forms of revolving debt, the Federal Reserve Bank of St. Louis announced last week.