Some EMs have increased spending sharply to fight covid-19. Argentina's increase is off the charts (adjusted for inflation), which makes you wonder if it's a strong response to covid or just loss of fiscal discipline...pic.twitter.com/TDcKVRWobt
As mentioned previously, the South African Reserve Bank has lowered the repo rate by 25 basis points, to 3.5 per cent. Joining CNBC Africa to look at how this further cut of interest rates means for South Africa locally and internationally are Annabel Bishop, Chief Economist at Investec and Elina Ribakova, Deputy Chief Economist at the Institute of International Finance.
WASHINGTON (Reuters) - Global debt surged to a record $258 trillion in the first quarter of 2020 as economies around the world shut down to contain the coronavirus pandemic, and debt levels are continuing to rise, the Institute for International Finance said on Thursday in a report.
The IIF, which represents global banks and financial institutions, said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the largest quarterly surge on record, to reach a record 331%.
While the rise in debt levels was well below average quarterly gains seen from 2015 to 2019, the pace of global debt build-up by governments, companies, financial institutions and households had accelerated since March, it said.
Overall gross debt issuance hit an “eye-watering” record of $12.5 trillion in the second quarter, compared with a quarterly average of $5.5 trillion in 2019,...
S&P500 | |||
---|---|---|---|
VIX | |||
Eurostoxx50 | |||
FTSE100 | |||
Nikkei 225 | |||
TNX (UST10y) | |||
EURUSD | |||
GBPUSD | |||
USDJPY | |||
BTCUSD | |||
Gold spot | |||
Brent | |||
Copper |
- Top 50 publishers (last 24 hours)