Predictably, this debt wave also ended with a series of crises, between 1997 and 2001, when a change in investor sentiment sparked a widespread sell-off. 3 Institute of International Finance, July 2020, Global Debt Monitor: Sharp Spike in Global Debt  Ratios, available at https://www.iif.com/Publications/ID/4008/Global-Debt-Monitor-Sharp-Spike-InGlobal-Debt-Ratios.
As shown by the green little bars at the bottom of the page, we were initially expecting to go back to 0.3 percent per month inflation, but that was delayed by two months because of shortages of vegetables and, of course, the big news in the Philippines-the shortage of onions.