COVID-19 and Public Debt

Abstract

Before the pandemic, World’s public debt was considered excessive, mainly by the standards set by the IMF, the European Union and the euro zone. Today, with the pandemic COVID-19, the world economy is facing an economic crisis that only the public authorities can contain, at least in the short term. In France, the Arthuis Commission is proposing to control public debt and return to debt reduction by the end of this decade. However, the economic stakes go beyond the crisis caused by the pandemic. It is also a question of preparing a different society, one that is less unequal and capable of engaging in sustainable economic development in the face of global warming. The concern is more about the excesses of international financial speculation, growing social inequalities and living conditions on Earth, which threaten the economic and social future of new generations much more than public debt.

Citation

Fontanel, J. (2023), "COVID-19 and Public Debt", Chatterji, M., Luterbacher, U., Fert, V. and Chen, B. (Ed.) Globalisation and COVID-19 (Contributions to Conflict Management, Peace Economics and Development, Vol. 31), Emerald Publishing Limited, Leeds, pp. 59-71. https://doi.org/10.1108/S1572-832320230000031003