General govt debt of advanced economies has surpassed 100% GDP: RBI Governor

While addressing at a book launch on ‘India’s Relations with International Monetary Fund,' in the national capital on Friday, RBI Governor Shaktikanta Das said, “Solutions are turning difficult to come by as global economy seems to be moving into new and unsettling phase in environment of stressed trade negotiations, rising geopolitical confrontation and limited policy space and high debt levels in several economies”. “General government debt of advanced economies as a group has surpassed 100 per cent of Gross domestic product (GDP). Fiscal space is also constrained in many of the advanced economies,” he added. “It is important, in the backdrop of slowing global growth, that policies of monetary and fiscal authorities are well-calibrated so they support growth without further build-up of leverage and asset price bubbles. Prudent policies are critical to growth with macroeconomic stability,” Das further stated.