Policy in the time of pestilence
Report Date: 10th March, 2020 Covid-19 hits economic activity on a number of levels. This compounds its impact over both the short- and longer-term. It also exposes leverage in the system, particularly in the non-financial corporate sector, which has seen debt surge thanks to historically low interest rates. We think the hidden ghoul in the chamber of pestilence could well be the global debt mountain.
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