IMF urges caution on borrowing as global debt rises to record high
(WorldNews Business)

The International Monetary Fund called on governments to be cautious as they borrow more money to support their economies and cushion the impact of the Covid-19 pandemic, which has led to global public debt soaring to its highest level yet. Public debt now stands at more than 100 per cent of global gross domestic product, above the peak experienced at the end of the Second World War, according to Vitor Gaspar, director for the IMF`s fiscal affairs department, and Gita Gopinath, the fund`s chief economist. “The need for continued fiscal support is clear, but this begs the question of how countries can finance it without debt becoming unsustainable,” the IMF executives said in a blog post....