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Two main World Financial institution economists issued a stinging rebuke in opposition to policymakers in creating international locations who’ve blamed the worsening debt disaster on the pandemic.
“The seeds have been sown lengthy earlier than COVID-19,” wrote Marcello Estevão and Sebastian Essl in a World Financial institution weblog submit printed on Tuesday. “Between 2011 and 2019, public debt in a pattern of 65 creating international locations elevated by 18% of GDP on common–and by far more in a number of instances.”
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