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OECD governments need to start refinancing their debts

OECD governments need to start refinancing their debts

Governments need to focus on their debts with OECD research showing sovereign borrowing is to hit a record high in 2019, says the OECD's Fatos Koc. Compared to the pre-crisis level, outstanding central government debt for the OECD area as a whole doubled in nominal terms, and exceeded USD 45 trillion in 2018. During the past decade, sovereign debt structure in the OECD area has been significantly affected by the fiscal and monetary policy responses to the financial crisis.[…]