reducing the cost of servicing the outstanding stock of public debt by 50-60 per cent would make these countries' fiscal positions more sustainable.
将未偿公共债务的偿债成本削减50%至60%,的确会让这些国家的财政状况变得更可持续。
outstanding stock includes any shares that a company has issued but has not repurchased-that is, stock that is investor owned.
流通股包括任何已经发行但公司还没有回购的股份,股票为投资人拥有。
in this case the central bank — by increasing excess reserves — would de facto monetize commercial bank liabilities and thus increase the outstanding stock of money.