Commentary
According to the International Monetary Fund, global fiscal support in response to the crisis will be more than $9 trillion, approximately 12 percent of the world’s GDP.
A sign showing the national debt is displayed in Washington, D.C., on Nov. 6, 2019. The current figure is almost $26.5 trillion. Tasos Katopodis/Getty Images for PGPF
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Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat” (2015), and “Life in the Financial Markets.”
