Altos Estudos BR Centro de Altos Estudos Brasil Século XXI
Bulow, J.; Reinhart, C.; Rogoff, K.; Trebesch, C.
O artigo faz uma reflexão sobre um dos principais problemas da economia mundial: o elevado nível das dívidas dos agentes. Os autores são categóricos ao afirmar que “[f]or some, a crisis is imminent. For many more, only exceptionally low global interest rates may be delaying a reckoning”, e advertem que a crise gerada pela panademia pode, no pior dos casos, “lead to another “lost decade” in development, with long delays in debt resolution”.
Frente os crescentes desafios, principalmente em relação aos desequilíbrios dos balanços dos agentes, graças ao aumento dos passivos e a exacerbação da incerteza sobre a valorização dos ativos, os autores concluem que ” Support must be forthcoming, regardless of what progress can be made in better managing debt workouts. However, to make sure as much aid as possible gets through to debtor country citizens, it is essential to ensure inter-creditor equity and fair burden sharing, especially between official
and private creditors. The more official aid and soft loans can go toward helping needy citizens around the globe—and the less such assistance
ends up as debt repayments to uncompromising creditors—the better”.
