How bailout debt is painting governments and central banks into a corner

Regardless of who wins the US presidential election, the next leader will start his term with record government debt. The pandemic has dealt a significant blow to government finances around the world. For some countries, such as the US and Japan, their central banks can help buy time before a debt reckoning. For others, painful austerity measures could be hard to avoid.With business revenues wiped out by lockdowns, public sector grants and loans are a lifeline for companies. Job protection…

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