World Bank Chief Economist Indermit Gill spoke with Reuters in an interview on Monday
- Rising debt levels among "seemingly healthy" countries in Asia could drag growth in the region below currently forecast levels
- said surprisingly high debt levels in Asia were a concern, noting that increased government borrowing from domestic markets would limit the level of credit available to private firms, resulting in faltering investment.
- "We have a simultaneous problems: too much debt and too little investment,"
- "There's a lot of government consumption and private consumption being financed through debt. There is not a lot of investment being financed through credit, and that's not great."
- The result could be "much lower growth" than we were forecasting
