The International Monetary Fund (IMF) has projected that global public debt will exceed $100 trillion this year, driven by increased borrowing due to political pressures for higher spending and slow economic growth.
According to the IMF’s latest Fiscal Monitor report, debt is expected to reach 93% of global GDP by the end of 2024 and may rise to nearly 100% by 2030, surpassing pandemic-era highs.
Political momentum, especially in countries like the U.S., is pushing for more spending on green initiatives, security, and social welfare, which may drive debt levels even higher than anticipated.
The IMF warns that fiscal uncertainty in major economies like the U.S. and China could result in debt reaching 115% of global GDP in just three years under adverse conditions.
The IMF is calling for more aggressive fiscal tightening to stabilize debt levels, warning that delayed action could lead to severe economic consequences.
