debt

  Global debt has reached staggering figures, totaling more than $300 trillion in 2024. Most of this debt is concentrated in the older, industrialized democracies, as well as China. It comprises public sector (sovereign) debt, corporate borrowings and household liabilities. Collectively, it represents roughly 300 percent of the world’s gross domestic product. In 2024, the total […]

  This week, all key finance ministers and central bank governors are gathering in Washington for the annual meetings of the International Monetary Fund (IMF) and World Bank. These two supranational institutions were created out of the Bretton Woods agreements, which sought to provide a financial and economic framework for the global economy. That system was, on […]

Today’s irresponsible economic policies are repeating historical mistakes, risking catastrophic consequences similar to those experienced in the past. In November 1923, a century ago, Germany’s post-war inflation reached its peak. One kilogram of rye bread was priced at 223 billion marks, and beef prices had soared past the trillion mark. Post-war Germany was facing exorbitant […]