Oddbean

IMF says global public debt to top $100 trillion, growth may accelerate ========== Global public debt is projected to exceed $100 trillion in 2024; IMF forecasts debt to reach 93% of global GDP by end of 2024 and approach 100% by 2030; Debt levels could rise due to political sentiment favoring increased spending; U.S. presidential candidates promise new tax breaks and spending, potentially adding $7.5 trillion (Trump) and $3.5 trillion (Harris) to federal deficits; IMF warns that actual debt outcomes may exceed projections by 10%; A 'severely adverse scenario' could push global debt to 115% of GDP in three years; Current fiscal consolidation efforts are deemed insufficient; U.S. fiscal 2024 deficit expected to be $1.8 trillion, over 6.5% of GDP; Countries like Brazil, Britain, France, Italy, and South Africa may face costly consequences from rising debt. #Imf #GlobalDebt #Gdp #UsEconomy #FiscalPolicy #Spending #Deficit #Politics #EconomicForecast #FinancialStability https://www.cnbcafrica.com/2024/imf-says-global-public-debt-to-top-100-trillion-growth-may-accelerate/