
Contents
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New Dimensions of Public Debt New Dimensions of Public Debt
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New Thinking on Macroeconomic Policies New Thinking on Macroeconomic Policies
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Lessons for Public Debt Management from the Global Financial Crisis Lessons for Public Debt Management from the Global Financial Crisis
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The Global Financial Architecture—Recent Developments The Global Financial Architecture—Recent Developments
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The Outlook for Global Public Debt The Outlook for Global Public Debt
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Tasks and Challenges Ahead Tasks and Challenges Ahead
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9 Crisis and Public Debt Management
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Published:November 2024
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Abstract
In most of the countries the cumulative impact of monetary and fiscal measures in managing the crisis is reflected in the magnitude of public debt. The stress on public debt could be the result of financial sector vulnerabilities and fiscal stimulus or through their mutually reinforcing nature. Global public debt appears to have increased manifold, mainly on account of fiscal stimulus in advanced economies. It is undeniable that new dimensions of public debt in the global economy have emerged from the global financial crises and magnified further during the COVID-19 pandemic. This chapter argues that the management of public debt in future should capture recent developments in global financial architecture and the outlook for global public debt. Against this background, the tasks and challenges ahead for management of public debt are listed in the concluding part of the chapter.
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