IMF says global public debt to top $100 trillion, growth may accelerate

The world’s total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment favors higher spending and slow growth amplifies borrowing needs and costs, the International Monetary Fund (IMF) said on Tuesday. The IMF’s latest Fiscal Monitor report showed global public debt will reach 93 per cent of global gross domestic product by the end of 2024 and approach 100pc by 2030. That would exceed its 99pc peak during COVID-19. It would also be up 10 percentage points from 2019, before the pandemic exploded government spending.