Credit-Rating Agencies Could Derail Economic Recovery

>> Read article published on Project Syndicate

PERI’s Jayati Ghosh discusses how the world’s three major private credit-rating agencies are using their power to prevent low-income countries from restructuring their debts and stimulating their economies. She makes a case for an independent public ratings agency that would provide a much-needed counterbalance to these unaccountable private agencies and might force them to embrace reforms that they have long resisted.