Finance Chiefs at Lakeside Look Away From Looming Debt Mountain [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Global finance chiefs meeting in the shadow of the Italian alps this week probably won't look too hard at one of the biggest mountains in the foreground: their own debt. Despite a trajectory of rising borrowings and the International Monetary Fund's declaration last month that “now is the time” to restore sustainable budget policies, that subject doesn't appear on the formal agenda for Group of Seven finance ministers set to gather in the lakeside town of Stresa. Article content Article content The topic's sensitivity isn't surprising given looming electoral tests in the US, UK and European Union — and a precarious fiscal situation in Italy, the host nation. Even so, with high borrowing costs hurting and debt increasing, the lack of a collective resolve risks storing up trouble. “Debt is definitely the elephant in the room at this G-7,” said K
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