Standard & Poor’s Global Ratings expects global debt levels to reach about 260 percent of GDP by the end of the year, but lower interest rates will help service those debts.
“The debt buildup was necessary given the policy response during the pandemic,” Acting Managing Director Vera Chaplin said at the Asia Briefing Live forum hosted by Bloomberg and Asia Society Australia.
Chaplin noted that the economic recovery will not be complete until vaccinations are spread widely enough to make Prime Time Zone feel more comfortable on the move.
Also Thursday at the forum, ADB Vice President Bruce Gosper said Asia’s recovery is continuing, trade continues to recover, and yet poverty reduction has been relatively stalled across the region.
The article Standard & Poor’s: Global debt may reach 260% of GDP by the end of the year was written in Al Borsa newspaper.