About this work
Who absorbed the surge in government borrowing during the pandemic? Robin Brooks, Jonathan Fortun and Jonathan Pingle divide demand for 2020 G10 debt issuance among central banks, foreign investors and other buyers. Their August 2021 comparison finds substantial private demand in the United States and Canada, contrasting with reliance on ECB purchases in the euro periphery and more constrained fiscal room there.
Abstract
Who absorbed the surge in government borrowing during the pandemic? Robin Brooks, Jonathan Fortun and Jonathan Pingle divide demand for 2020 G10 debt issuance among central banks, foreign investors and other buyers. Their August 2021 comparison finds substantial private demand in the United States and Canada, contrasting with reliance on ECB purchases in the euro periphery and more constrained fiscal room there.
Cite this work
Robin Brooks, Jonathan Fortun, Jonathan Pingle (2021). Global Macro Views: Global Demand for 2020 Debt Issuance. Institute of International Finance.