WASHINGTON: The International Monetary Fund (IMF) warned in a report on Tuesday that rising public debt in developed countries is a threat to the stability of the world's financial system.
"Risks to global financial stability have eased as the economic recovery has gained steam, but concerns about advanced country sovereign risks could undermine stability gains and prolong the collapse of credit," the report said.
"Without more fully restoring the health of financial and household balance sheets, a worsening of public debt sustainability could be transmitted back to banking systems or across borders."
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