BIS sends government debt warning before important elections

The Bank for International Settlements warned on Sunday that rising government debt levels amid a number of major elections this year could roil global financial markets.

BIS General Manager Agustin Carstens said with interest rates not about to go back to ultra-low levels, and cost pressures from aging populations, climate change and rebuilding defence capabilities, economic stimulus plans and a general rise in protectionism could unsettle sensitive markets. Carstens said the BIS was not calling out any “one or two” governments but that the message was clear.

“Compared to last year, I have to say we are in a much better place,” the former Mexican central bank governor said.

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