Fiscal measures and global debt

Here is the latest on fiscal measures (courtesy: IMF) deployed by different countries:

Source: IMF blog

This stimulus collectively amounts $11 trillion worldwide. Yet, the state of global public debt is worrying too.

Source: IMF Blog

Authors Vitor Gaspar and Gita Gopinath write:

In the face of a sharp decline in global output, a massive fiscal response has been necessary to increase health capacity, replace lost household income and prevent large-scale bankruptcies. But the policy response has also contributed to global public debt reaching its highest level in recorded history, at over 100 percent of global GDP, in excess of post-World War II peaks.

Read more here.

Recommended: An April 2020 Bloomberg piece by Andy Mukherjee and another June 2020 piece by Somnath Mukherjee on public debt in India.

Hat tip: Macroeconomics seminar series

Lockdown has led to wonderful season of webinars and if you love Macroeconomics and Economic History, here are the webinars I recommend:

The Graduate Institute Geneva has been conducting this fabulous series for those who are interested in Microeconomics, and just this week, we had Prof James Robinson presenting his studies on the economic effects of the English enclosures. You can catch the live feed on YouTube here.

Another webinar I want to recommend is this Graduate Seminar Series by the Institute for New Economic Thinking.

Let me know if you are listening to others and would want me to add to this list.