{"id":233377,"date":"2024-10-16T09:39:25","date_gmt":"2024-10-16T09:39:25","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/16\/global-public-debt-to-hit-100-trillion-by-end-of-2024\/"},"modified":"2024-10-16T09:39:25","modified_gmt":"2024-10-16T09:39:25","slug":"global-public-debt-to-hit-100-trillion-by-end-of-2024","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/16\/global-public-debt-to-hit-100-trillion-by-end-of-2024\/","title":{"rendered":"Global public debt to hit $100 trillion by end of 2024"},"content":{"rendered":"

<\/p>\n

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\"The The International Monetary Fund (IMF)<\/span><\/span><\/p>\n<\/div>\n

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Global public debt is set to reach $100 trillion, or 93% of global gross domestic product, by the end of this year, driven by the US and China, according to new analysis by the International Monetary Fund.<\/p>\n

In its latest Fiscal Monitor \u2014 an overview of global public finance developments \u2014 the IMF said it expects debt to approach 100% of GDP by 2030, and it warns that governments will need to make tough decisions to stabilize borrowing.<\/p>\n

Debt is tipped to increase in the US, Brazil, France, Italy, South Africa and UK, according to the IMF report, which urges governments to rein in debt.<\/p>\n

\u201cWaiting is risky: country experiences show that high debt can trigger adverse market reactions and constrains room for budgetary maneuver in the face of negative shocks,\u201d it said.<\/p>\n

With little political appetite to cut spending amid pressures to fund cleaner energy, support aging populations and bolster security, the \u201crisks to the debt outlook are heavily tilted to the upside,\u201d the IMF said.<\/p>\n

Countries where debt is not projected to stabilize make up over half of global debt and about two-thirds of global GDP.<\/p>\n

Using a \u201cdebt-at-risk\u201d framework, the IMF found that the level of future debt in an extreme adverse scenario could reach 115% of GDP in three years, almost 20 percentage points higher than in the baseline projections.<\/p>\n

\u201cThis is because high debt levels today amplify the effects of weaker growth or tighter financial conditions and higher spreads on future debt levels,\u201d it said. <\/p>\n

The debt-at-risk metric for advanced economies has slipped from pandemic peaks and is now estimated at 134% of GDP, but it has risen to 88% for emerging market and developing economies. <\/p>\n

While slowing inflation and falling interest rates are offering governments a window to get their fiscal houses in order, there\u2019s little sign of any urgency to do so, the IMF said. <\/p>\n

\u201cCurrent fiscal adjustment plans fall far short of what is needed to ensure that debt is stabilized (or reduced) with high probability,\u201d it said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The International Monetary Fund (IMF) Global public debt is set to reach $100 trillion, or 93% of global gross domestic product, by the end of this year, driven by the US and China, according to new analysis by the International Monetary Fund. 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