Global public debt is projected to surpass $100 trillion this year, equating to 93% of global GDP, and could reach nearly 100% by 2030, according to the International Monetary Fund (IMF).
The IMF’s latest report highlights increasing borrowing driven largely by the United States and China, with significant fiscal pressures stemming from demands for green energy, security, and aging populations. Political factors, particularly in the U.S. where both presidential candidates propose tax cuts, may exacerbate the situation, potentially adding trillions to national debt.
The IMF emphasizes the urgent need for governments to implement stringent fiscal measures to stabilize their borrowing, warning that postponing action could lead to larger corrections in the future. The report also notes that existing debt projections may underestimate actual future outcomes by considerable margins.
Countries are advised to confront these debt risks proactively to avoid adverse market reactions and maintain budgetary flexibility. […]
— Read More: valuetainment.com
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