Commentary Global debt levels soared by $8.3 trillion in the first quarter of 2023, climbing to $305 trillion, nearly the record high set in the first quarter of 2022, according to the Institute of International Finance. This means almost 335 percent of GDP. Rising debt is a burden on growth, and soaring public debt means…
IMF Warns of ‘More Frequent and More Disruptive Fiscal Crises Across the World’
The International Monetary Fund (IMF) warned of a global fiscal crisis that only underscores the need by developed countries to assist poorer nations with more “orderly debt restructuring.” Many of these countries are experiencing rising level of debt and mounting fiscal pressures that may lead to major social unrest among their poorest citizens, according to Vitor…
Global Debt Reaching ‘Dangerous’ Levels: IMF
April 12, 2022
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Global debt is at such a high level that a worldwide cooperative approach is needed to tackle the danger, according to Vitor Gaspar, director of the International Monetary Fund’s (IMF) fiscal affairs department, and Ceyla Pazarbasioglu, the organization’s strategy chief. Data from the IMF’s Global Debt Database shows that borrowing rose by 28 percentage points…
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