The pandemic is racking up mind-blowing global debt

Source: Alexander Villegas, Anthony Faiola & Lesley Wroughton, Washington Post (Paid Registration)

Around the globe, the pandemic is racking up a mind-blowing bill: trillions of dollars in lost tax revenue, ramped-up spending and new borrowing set to burden the next generation with record levels of debt. In the direst cases—low- and middle-income countries, mostly in Africa and Latin America, that are already saddled with backbreaking debt—covering the rising costs is transforming into a high-stakes test of national solvency.

Meanwhile, the United States has run up debt at a pace not seen since World War II (although the world’s wealthy nations are better able to cope with growing debt than their poorer counterparts).

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