https://news.cgtn.com/news/2020-04-10/The-COVID-19-default-time-bomb-PzBHM3DoTm/index.html

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Editor's note: Pierre-Olivier Gourinchas is professor of economics at the University of California, Berkeley and a visiting professor at Princeton University. Chang-Tai Hsieh is professor of economics at the University of Chicago Booth School of Business. The article reflects the authors' opinions, and not necessarily the views of CGTN. Without a comprehensive debt moratorium, the COVID-19 pandemic will lead to a wave of uncontrolled sovereign defaults, especially among emerging and developing economies. Should that happen, global efforts to contain the public-health crisis will fail, and the current economic collapse may well turn into a permanent decline. Rich and poor countries alike a... Full story

10 April

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