Global public debt is forecast to exceed $100tn by the end of this year, according to the IMF, which has warned that major economies’ plans to stabilise borrowing “fall far short of what is needed”.
The fund said on Tuesday that government debt, which ballooned during the Covid-19 pandemic, had continued to rise as countries embrace higher spending to stimulate economic growth. Debt was set to approach 100 per cent of global GDP by the end of the decade, it added.
“Risks to the debt outlook are heavily tilted to the upside” and there are “good reasons to believe that future debt levels could be higher than currently projected”, it said in a report.
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