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July 16, 2019


Robert Sweeney

Good post. I think the most relevant metric is debt payments to GNI*: 2.7% last year, set to be 2.4% this year, and 2.0% next year. That's about what we had in late-90s/2000 (%GDP). Not low, but about the level of Belgium, Spain, and the UK now. Low interest rates are set to continue for the next couple of years with Lagarde, so I think the emphasis on overall debt is, as you say, a bit scaremongerish.

Robert Sweeney

Correction: I meant to say interest payments, not debt payments.

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