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Pimco International from Riyadh: Take in lending does not necessarily mean growth in wealth

During his participation in the “Future Investment Initiative” conference in Riyadh, the vice president of the board of directors of Pimco, John Studzinsky, confirmed that the amount of the debt in the whole world is currently three times bigger during the global financial crisis.

Studzinsky noted that to take in lending does not necessarily mean growth in wealth, and that Existing financial support packages are loans that need to be paid in following.

He explained that the economy faces many risks, including high inflation and slowing economic growth.

In its fifth edition, the Future Investment Initiative brought together leaders from countries, companies, policy makers, investors and innovators from around the world in a global forum to explore pioneering solutions that address societal challenges and work towards achieving those solutions.

The Future Investment Initiative had announced the holding of 16 partnerships with a selection of the largest companies and institutions in the world, with the fifth session.

Partners will support the global nonprofit organization to make an impact in 5 areas: artificial intelligence, robotics, education, healthcare and sustainability.

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