International Monetary Fund: Global Public Debt May Exceed $100 Trillion in 2024 Amid Rising U.S. and China Spending

The International Monetary Fund (IMF) expects global public debt to surpass the $100 trillion mark in 2024,
driven by increased spending in major economies such as the United States and China.

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In its Global Financial Outlook report, the IMF indicated that global public debt is projected to reach 93% of global GDP by the end of this year, and it could approach 100% by 2030, exceeding the peak of 99% witnessed during the COVID-19 pandemic.

Countries like the United States, Brazil, France, Italy, South Africa, and the United Kingdom are expected to see rising debt levels.
The IMF warned that delaying action on this issue could lead to negative market reactions and weaken governments’ abilities to manage their budgets during crises.

The report also noted that global challenges, such as the transition to clean energy,
aging populations, and security risks, have increased uncertainty surrounding fiscal policies,
further intensifying pressure on public spending.
In the worst-case scenario, the IMF predicted that global debt could reach 115% of GDP within three years.

International Monetary Fund

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