America will have to reduce debt to avoid the next pandemic: Rajan

Mumbai: Former Reserve Bank of India (RBI) Governor Raghuram Rajan said public debt in the US and rival countries should not be allowed to rise further given the dangers of the pandemic than before. The report has been quoted as saying.

Rajan said in a warning tone, countries which are continuously increasing their debt burden are putting themselves at risk of the next pandemic.
Apart from the global financial crisis, we have already faced Corona and people say that there will be pandemics from time to time in the next century, so we should not be happy with increasing the debt burden.

The International Monetary Fund (IMF) issued a report last month warning that the United States’ debt will continue to grow, so this warning fits the United States.

According to the IMF, global public debt will reach $100 trillion or 93 percent of global GDP by the end of the current year, led by the United States and China.

Debt has to be reduced so that work can be done at the time of need and the dangers of debt cannot be underestimated. Rajan further said, due to high debt burden, countries cannot help each other which is another weakness for the world.