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Drowning in debt

It’s not the biggest item in the international news, but it’s still the elephant in the room

By George Magnus  

IMF "Headquarters One" in Washington DC ©IMF

At a large investment conference in Edinburgh last week to discuss a range of economic issues, I was surprised that no one formally raised the topic of debt. Additionally surprised, I’d say, because the IMF reminded us on Wednesday that world debt rose last year to a record $152 trillion, twice as high as it was in 2000, and equivalent to an all-time high of…

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