Time for a Selective Debt Jubilee

NEW YORK – The COVID-19 crisis will leave many private and public borrowers saddled with unsustainable debt. We are still in the “pre-Keynesian” supply-shock-cum-derived-demand-shock phase of what is likely to be a global depression. But once the virus is mostly vanquished, households will engage in precautionary saving, and businesses will be reluctant to commit to […]

The post Time for a Selective Debt Jubilee appeared first on East African Business Week.

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