IMF Projects Global Debt to Surpass 100% of GDP by 2029
Global public debt is expected to exceed 100% of Gross Domestic Product (GDP) by 2029, marking its highest level since 1948, according to the International Monetary Fund (IMF).
"In the fiscal monitor, we project global public debt to go above 100 per cent of GDP by 2029,"
Vitor Gaspar, Director of the IMF’s Fiscal Affairs Department, stated during the release of the Fund’s latest Fiscal Monitor. He emphasized that policymakers must act now to keep debt under control and contain debt risks.
- Global public debt is projected to exceed 100% of GDP by 2029.
- The period between the global financial crisis and the COVID-19 pandemic had unusually favorable conditions for sustaining debt due to falling interest rates.
Author's summary: IMF warns of global debt surpassing 100% of GDP by 2029.