Pimco’s Baz Says Japan In a Bind as Total Debt Tops 600% of GDP - Bloomberg
'There’s “very little” that Japan can do about its mounting debt pile, which presents a potential risk to growth, according to Pacific Investment Management Co.’s Jamil Baz. '
'Billionaire bond investor Bill Gross has said that the likely endgame is for the BOJ to forgive sovereign debt. '
'Delaying an increase to the value-added tax -- currently scheduled for 2019 -- will exacerbate the debt problem, while pushing ahead with the hike that’s planned would make growth “even more mediocre, potentially negative,” Baz said. '
'Baz, who has also taught at the University of Oxford, published a paper last month on seven potential outlier risks to the global economy. '
'Yukio Noguchi, a former Ministry of Finance official and best-selling author, said he believes the BOJ is already financing fiscal spending. '
[–] derram ago
https://archive.is/nwU83 :
'There’s “very little” that Japan can do about its mounting debt pile, which presents a potential risk to growth, according to Pacific Investment Management Co.’s Jamil Baz. '
'Billionaire bond investor Bill Gross has said that the likely endgame is for the BOJ to forgive sovereign debt. '
'Delaying an increase to the value-added tax -- currently scheduled for 2019 -- will exacerbate the debt problem, while pushing ahead with the hike that’s planned would make growth “even more mediocre, potentially negative,” Baz said. '
'Baz, who has also taught at the University of Oxford, published a paper last month on seven potential outlier risks to the global economy. '
'Yukio Noguchi, a former Ministry of Finance official and best-selling author, said he believes the BOJ is already financing fiscal spending. '
This has been an automated message.