The writer is a financial journalist and author of ‘The Economic Consequences of Mr Trump’
Government bond for sale: will accept any reasonable offer. Politicians across the developed world have a problem. They have large debts and need to borrow more money every year. But it is getting increasingly difficult to find automatic buyers of their bonds.
The latest OECD report on government debt estimates that sovereign bond issuance by the group’s countries will be $17tn in 2025, up from $14tn in 2023. Some of that will, of course, be used to refinance existing debt, but the total amount of debt outstanding is expected to rise to $59tn, or about 84 per cent of the GDP of those countries.
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