Global public debt will exceed $100 trillion this year for the first time EVER

[noumoe]

Global public debt will exceed $100 trillion this year for the first time EVER, and will likely continue to rise from there.

A new International Monetary Fund report showed that government borrowing will reach 93% of global GDP by the end of the year and near 100% by 2030 — exceeding a pandemic-era peak of 99%, and 10 percentage points up from 2019.

The report comes shortly before a US election in which both candidates’ policy promises could add trillions to Washington’s already enormous debt burden, although most economists agree Republican Donald Trump’s plans would add significantly more than Democratic candidate Vice President Kamala Harris.

Other countries also have a growing debt pile, with the IMF warning: “Postponing adjustment will only mean that a larger correction is needed eventually.”

https://www.semafor.com/article/10/15/2 ... first-time