Global public debt is expected to surge faster than prior to the coronavirus pandemic, and will keep rising over the next few years, according to a new report from the International Monetary Fund (IMF).
In the organization’s latest Fiscal Monitor report, economists stated that international government debt has tumbled briefly as exorbitant pandemic-era fiscal and monetary policies winded down. However, government debt is beginning to increase again, and IMF researchers warn that these levels will continue to rise over the next five years.
The United States and China have mainly contributed to this upward trend. If these economies were excluded from the calculations, “the public debt-to-GDP ratio would be going down” worldwide, said Vitor Gaspar, the IMF director of the fiscal affairs department….