The International Monetary Fund (IMF) has issued a stark warning about the rising tide of public debt in countries across the globe, with the United States standing out because of its persistent fiscal deficits and mounting spending pressures.
The IMF’s latest Fiscal Monitor report, released on Oct. 15, projects that global public debt will exceed $100 trillion—equal to about 93 percent of global gross domestic product (GDP)—in 2024, and that it could approach 100 percent of GDP by the end of the decade. The United States, in particular, faces significant risks if fiscal policies are not adjusted urgently.
