The global economy faces immense debt leverage that compounds the crisis situation, but the solution is not naive financial squeeze through interest rate increases but rather must involve debt relief and continued development finance.
causalpending
Speaker
Jeffrey SachsEvidence Quote
“this is also happening on the backdrop of of immense debt leverage that the global economy... if we go into this just with the naive financial squeeze right now we'll end up with a lot of carnage uh meaning a lot of countries in default”
Source
Jeffrey Sachs: "We're in a crisis and it will get worse in the coming months."— Prague Finance InstituteCreated: 8/10/2026, 9:58:27 PM
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