The billions of dollars in stimulus packages that governments are spending today risk leaving future generations in a mountain of debt - leaving them no space to borrow in the event of future crises and pandemics, nor to address legacy problems such as climate change and ageing populations. In addition, COVID-19 lockdowns are exacerbating the rich-poor gap in many societies, and many families are going to slip from the lower middle class into poverty, economist Raghuram Rajan predicts. Those that are forced to pull their children out of school because they can no longer afford their education would be "condeminng the next generation to a greater poverty". Rajan, the former Governor of India’s Central Bank, was chief economist of the International Monetary Fund (IMF) from 2003 to 2006, and is currently Professor of Finance at the University of Chicago. He's also part of a special group advising the IMF on the economic challenges of the pandemic. WATCH: The full interview on #InConversation: https://www.youtube.com/watch?v=3154Ar3PinU For more, SUBSCRIBE to CNA INSIDER! https://cna.asia/insideryoutubesub Follow CNA INSIDER on: Instagram: https://ift.tt/2C3sZiR Facebook: https://ift.tt/2PPEuNA Website: https://cna.asia/cnainsider
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