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G-20 Gets All Coy About Debt Even as Members’ Borrowings Balloon
Global finance chiefs are poised to march out of their Group of 20 meeting with a sense of collective reticence to talk about just how much they’re borrowing. In the same week that S&P Global Ratings predicted sovereign debt issuance will balloon this year about $11.5 trillion, more than 50% above its pre-pandemic level, ministers and finance chiefs in Sao Paulo seem far keener to talk up the world economy’s outlook. That’s underscored by their draft communique, obtained on Tuesday by Bloomberg. While applauding the increased likelihood of a “soft landing” and the prospect of “faster-than-expected ... (full story)