The Debt Reckoning

By Rodrigo Valdes and Era Dabla-Norris

WASHINGTON, USA – Unprecedented debt levels are pressing governments to make tough choices. While aging populations demand more public spending, resources are stretched thin, and the days of cheap borrowing that allowed the debt burden to be kicked down the road are behind us.

Rodrigo Valdés and Era Dabla-Norris head the IMF fiscal affairs department and write about high debt and hard choices in the March edition of Finance & Development magazine.

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