Articles by Joseph E. Stiglitz, Nobel Economics Laureate, and Hamid Rashid
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How to Prevent the Looming Sovereign-Debt Crisis
Joseph E. Stiglitz, Nobel Economics Laureate, and Hamid Rashid | Vox EU – TRANSCEND Media Service,
24 Aug 2020
3 Aug 2020 – From Latin America’s lost decade in the 1980s to the more recent Greek crisis, there are plenty of painful reminders of what happens when countries cannot service their debts. This column argues that a global debt crisis today would likely push millions of people into unemployment and fuel instability and violence around the world, and proposes a multilateral sovereign debt buyback facility which could be managed by the IMF.
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