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Debt burden the national budget would soar to 45 percent worldwide in the period 2007 to 2010, the leading rating agency Moody `s estimated Wednesday.

"Initial estimates indicate that the total stock of debt will increase by 45 percent or 15.3 trillion dollars (10.2 billion euros) from 2007 to 2010," Moody's analyst `s Jaime Reusche said in a statement, as quoted by AFP. .

This is "more than 100 times the inflation adjusted cost of the Marshall Plan," the large U.S. investment program that was launched to revive Europe after World War II, he added.

Moody `s estimates in its report that the total global debt in 2010 will reach more than 49 trillion dollars.

The members of the G7 group of rich countries will record more than three-quarters of the increase, "because of their fiscal accounts have been hit hardest by the crisis," said Reusche.

"Because the growth turned negative in 2009 for most countries, the debt burden is relatively more difficult."

Several major economies including the United States, Japan and Germany emerged from recession in recent months, but observers have warned that risks to recovery, some of the accumulated debt in the deal decline.

When the government took the burden of huge debts in their struggle to alleviate the impact of the recession, the global debt ratio of economic production is expected to reach 80 percent in 2010 from 63 percent in 2008, says Moody `s.

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2 Responses so far.

  1. akhatam says:

    good info... !! keep blogging...

  2. a nice article
    thanks for your info

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