Dealing with debt in a time of low growth

A government is more likely to to be successful in taming debt when growth is high. But early fiscal consolidation and falling short-term interest rates can help reduce debt in more trying economic conditions.

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Sooner or later — and one way or the other — government debt in advanced economies will have to come down from the record levels reached in the wake of the global economic and euro area crises. 

Graph for Dealing with debt in a time of low growth

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