GZERO World with Ian Bremmer cover image

Fix the global debt crisis before it's too late, warns World Bank's David Malpass

GZERO World with Ian Bremmer

NOTE

Reinstate Fiscal Discipline for Economic Stability

The US requires a reformed debt limit that minimizes the risk of default and promotes fiscal discipline, essential for maintaining checks and balances in advanced economies. Current rising debt-to-GDP ratios showcase a lack of such discipline. Additionally, the shift from traditional monetarism to a more intrusive monetary policy is evident, as the Federal Reserve expands its balance sheet significantly by borrowing from banks rather than regulating the money supply directly. This change could hinder potential economic growth.

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