Curb Your Debts to Prepare for the Next Pandemic, Rajan Tells US
- Possible future crises mean big borrowings are a vulnerability
- ‘This is certainly a message for’ US, former IMF official says
Raghuram Rajan
Photographer: Al Drago/BloombergThis article is for subscribers only.
High public debt can’t be left to fester in the US and its peers in a world that is prone to more pandemics than before, former Reserve Bank of India governor Raghuram Rajan said.
Speaking to reporters in Rome, the one-time chief economist of the International Monetary Fund warned that countries that keep swelling existing mountains of borrowings leave themselves exposed for when the next emergency hits them.