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The advanced economies of the world have taken on additional debt since the global financial crisis. Although the private sector has had some success in de-levering in some of these economies (Figure 1), government debt-to-GDP ratios have generally risen over the past eight years (Figure 2). In these final two installments of special reports on rising financial leverage in advanced economies, Wells Fargo tackles the subject of the sustainability of government debt. They focus on government debt in five non-Eurozone economies in this report. In a companion report, Wells Fargo looks at government debt in some countries in the Eurozone.

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