The International Monetary Fund (IMF) has predicted that global public debt will exceed $100 trillion this year for the first time and may grow faster than expected as political trends increase spending and exacerbate borrowing needs and costs due to slow growth.
According to the IMF's latest Fiscal Monitor report, global public debt is expected to reach 93 percent of global GDP by the end of 2024, approaching 100 percent by 2030, surpassing its previous peak of 99 percent during the COVID-19 pandemic. Debt will also rise by about 10 percentage points compared to 2019, before the pandemic and increased government spending.
