Raghuram Rajan: Should economies pile up debt to cope with Covid-19?

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The Covid-19 pandemic has plunged the world economy into a deep recession. How long will it last and what kind of recovery can we expect? That in part depends on what governments do now. Should they be piling up future debt to cope with today’s crisis? Stephen Sackur speaks to the former Governor of India’s Reserve Bank and IMF chief economist Raghuram Rajan. Do the old rules of fiscal discipline no longer apply? (Photo: Raghuram Rajan, IMF chief economist)