Busy with coronavirus bailouts, the world has taken its eyes off the looming debt crash

Awful though Covid-19 has been for its victims and damaging as lockdowns and social distancing have been for commerce and industry, the economic and financial fallout has not yet seemed as bad as feared. The impact has been softened by official aid but is there still a crash coming?We had the global financial crisis in 2008, the Asian financial crisis in 1997, the Latin American debt crisis in the 1980s and others too many to mention. But this time is different; there are (as yet) few…

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