Carmen Reinhart on Debt and the Global Economy

Almost a decade after the financial crisis, global economic growth is fizzling and many of the world’s economies are laden by high and often rising public and private debt. With increasingly limited scope for conventional monetary policy, decision-makers are turning to greater policy coordination, fiscal stimulus, financial regulation, and less structural reforms to foster the recovery. Yet, according to Carmen Reinhart, comprehensive debt restructuring is rarely included in the policy mix. Why should it be? And how could it help growth? Please join the Council on Global Affairs and Carmen Reinhart for a discussion of the importance of debt in the global economy.