IMF to Rich Countries: Don’t Sweat the Debt

With European officials huddling this week in an effort to find a way out of the debt crisis threatening to push Greece out of the European currency union, a new working paper from the International Monetary Fund that challenges much of the conventional thinking about how countries that have accumulated substantial sovereign debt ought to prioritize their spending. First mentioned in a Wall Street Journal piece this morning by David Wessel, who directs the Hutchins Center on Fiscal and Monetary