BY DAVID P. GOLDMAN
All three main sectors that buy US debt are challenged
mentioning John B. Taylor via World Bank Publications
Public debt is rising in both emerging markets and low income developing countries to levels not seen since the early 1980s. Forty percent of low income developing countries are now either in debt distress or at high risk of default. At the same time, corporate debt in emerging markets is also exceeding historical levels. This situation calls for new efforts within developing countries and the international community to contain vulnerabilities rising from these increasing levels of debt.