Global 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…
Global Public Debt Set To Top 100% Of GDP By 2029 – IMF Warns
October 15, (THEWILL) — The International Monetary Fund (IMF) has raised a fresh alarm about the trajectory of global public debt, projecting that aggregate government borrowing will exceed 100% of world GDP by 2029 — the highest level since the immediate post-World War II period. The projection, published in the IMF’s latest Fiscal Monitor and
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...
IMF sounds alarm on soaring sovereign debt
The International Monetary Fund (IMF) has urged governments to bear down on profligate spending after it found government debt was on course to reach 100 per cent of global GDP within the next five years. In its latest Fiscal Monitor report, the world’s preeminent financial institution sounded the alarm on developed and developing nations’ over-reliance on borrowing, warning it threatened “financial stability” if governments do not urgently curb…
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.
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