The news brought by the World Bank’s Global Economic Prospects report was not good. First we have the forecast for global growth (https://www.worldbank.org/en/publication/global-economic-prospects). This is now down to 1.7%, well below the 3% previously forecast in June. For developed economies, the forecast is for growth of just 0.5% in 2023, just above the typical recession …
Tag: world debt
Is it Time for the Eurozone/EU to Issue A Perpetual Bond?
Global debt has reached 365% of world annual GDP, an amount close to $280trillion and surely no one should expect this amount to be repaid within the space of a century. The only solution that seems feasible now is its unstoppable per-financing, although in the long term this solution is not sustainable, since it has …