Latest / The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending
Why Government Off-Balance-Sheet Entities Hide a Trillion-Dollar Problem
Episode 34 of The Fiscal Policy Podcast with Fexingo takes you inside the shadowy world of government off-balance-sheet entities — the public corporations, special-purpose vehicles, and quasi-autonomous agencies that let governments borrow without reporting the debt. Lucas and Luna drill into a single concrete case: the UK's Network Rail, which was classified as a private company for a decade despite being entirely state-backed, allowing the British government to keep £30 billion off its books. They explain the mechanics of how these entities work, why the IMF and investors are…
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