IMF Warns of Global Debt Crisis: Millennials Fear Repeating History
The International Monetary Fund (IMF) projects global government debt to reach 100% of GDP by 2029, the highest since World War II, fueled by increased spending before and during the Covid-19 pandemic. The IMF’s Fiscal Monitor report highlighted that this increase is causing significant concern, especially for emerging economies, urging governments to shift spending towards growth-friendly sectors like infrastructure and education. The UK, among other G20 nations, is expected to see its debt-to-GDP ratio surpass 100%, and faces scrutiny from bond market investors. The IMF also cited reluctance to impose tax increases and looming expenditures on defense, natural disasters, and demographics as contributing factors to rising debt.
John Q. Hosedrinker