Global public debt hits record high of $88 TRILLION – IMF The | RT NEWS
Global public debt hits record high of $88 TRILLION – IMF
The International Monetary Fund (IMF) said on Wednesday that global government debt is estimated at 97.8% of the world’s gross domestic product in 2021.
That is 0.8 percentage points lower than a year before but still at record-high levels as a result of the massive fiscal responses to the Covid-19 pandemic.
Globally, public debt now amounts to $88 trillion, according to the IMF, but is expected to decline by about 1 percentage point of the world’s GDP per year in 2021 and 2022 before stabilizing at about 97% of GDP.
In the coming years debt is “expected to remain persistently higher than the levels projected before the pandemic – in advanced economies it is projected to be almost 20 percentage points higher through 2026,” the IMF said in its report.
