WASHINGTON (AN) — Growing public debt is a recipe for financial disaster worldwide, making governments vulnerable when credit tightens and interest costs rise. But a top strategist at the International Monetary Fund has a solution: more documentation and transparency.
Martin Muehleisen, director of IMF’s strategy, policy and review department, said the burden of public debt has become a growing problem across the globe. And the IMF has acknowledged difficulties in assessing the sustainability of debt among developing nations, as Chinese lending surged without much of a paper trail to examine.
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