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IMF calls fiscal cost of credit crunch at $10 trillion
Geoff Riley
31st July 2009
This is a shed load of noughts! The BBC has a report here on the latest estimates from the IMF of the cost to governments arising from the credit crunch:
Governments are likely to recover most of these sums when the world economy recovers, but big deficits will stay.
The financial bail-out costs include:
- Capital injections: $1.1tn
- Purchase of assets: $1.9tn
- Guarantees: $4.6tn
- Liquidity provision: $2.5tn
More here
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.