Global public and private debt has blown out to a record $US152 trillion ($199 trillion) and Australian households are bingeing on borrowed money at a “fast pace”, exposing the economy to a future crisis, warns the International Monetary Fund.
In a wake-up call about the explosion in private sector debt in many advanced economies and China, the IMF’s Fiscal Monitor said history showed it was “very easy to underestimate the risks associated with private debt” during good economic times.
“It is crucial to ha…
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