World Bank Chief Economist Indermit Gill spoke with Reuters in an interview on Monday
- Rising debt levels
among “seemingly healthy” countries in Asia could drag growth in
the region below currently forecast levels - said surprisingly high debt levels in Asia were a concern, noting that increased government borrowing from
domestic markets would limit the level of credit available to
private firms, resulting in faltering investment. - “We have a simultaneous problems: too much debt and too
little investment,” - “There’s a lot of government
consumption and private consumption being financed through debt.
There is not a lot of investment being financed through credit,
and that’s not great.” - The result could be “much lower growth” than we were
forecasting