US EditionGlobal Public Debt Set to Top Post-WWII Levels by 2029, IMF Says
The IMF warns global public debt will reach 123% of GDP by 2029 with a 5% risk of exceeding 120%, driven by rising spending and fiscal challenges worldwide.
- On Wednesday, the International Monetary Fund warned global public debt is set to exceed 100% of GDP by 2029, the highest level since 1948.
- Governments are contending with rising spending pressures that boost defence and social services costs, while developing nations face limited funding options and rising public wage bills distort labour markets.
- Despite a 5 per cent risk, the IMF found that public debt could reach 123% of GDP by 2029, and many countries with debt ratios less than 60% still face significant risk.
- The IMF urged governments to limit spending, manage public sector wage bills and build fiscal buffers, as political strain surfaced with France's budget fight recently toppling a government and the US federal shutdown.
- The United Kingdom faces a historic fiscal challenge as debt rises from about 103% to 105% of GDP by decade's end, while forecasts show a primary surplus in three years.
35 Articles
35 Articles
IMF warns about soaring global government debt
The IMF on Wednesday issued a stark warning over soaring global government debt, saying it is on track to exceed 100% of GDP by 2029. Such a ratio would be the highest since 1948, when large economies were rebuilding post-war. Today, “there is little political appetite for belt-tightening,” The Economist wrote: Rich nations are reluctant to raise taxes on their beleaguered electorates — but they’re facing pressure to spend more on defense, and o…
The International Monetary Fund launches the global public debt alarm: by 2029 the GDP superer stood at its peaks since 1948, when the economy was devastated...
Public debt has risen to the highest level since 1948 by 2029, according to the International Monetary Fund. However, the differences between countries are large.
The International Monetary Fund warns that global public debt is about to reach 100% of the gross domestic product by 2029, the highest post-World War II level. In the Fiscal Monitor report, the institution shows that government debt has increased faster than before the Covid-19 pandemic and asks States to redirect costs to areas that stimulate economic growth, such as infrastructure and education. Among the G20 economies that will exceed the 10…
IMF sounds alarm about high global public debt, urges countries to build buffers
Global public debt is projected to rise above 100% of gross domestic product by 2029, reaching its highest level since 1948 and continuing to climb, the IMF said on Wednesday, urging countries to build up buffers to guard against economic risks.
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