IMF’s the Good, the Bad and the Ugly

By Economics Correspondent Sean Whelan @seanwhelanRTE “Assuredly it does not pay to be good”, said economist John Maynard Keynes. The economist was writing about Britain’s efforts to deal with the high level of debt it had built up after the first World War (140% of GDP). The IMF have pulled out this quote as part of a review of how a number of advanced economies coped with debt ratios above 100% over the past 100 years – and they agree with …