November 17, 2023
Washington DC
Good morning and welcome to our conference on Fiscal Policy in an Era of High Debt.
Since the mid-1970s, global public debt has tripled to reach 92 percent of GDP by the end of 2022.
So, debt levels had been rising for some time.
On top of that, more costs lie ahead: from large spending needs from ageing populations in advanced economies, to achieving sustainable development goals in emerging and developing economies.
What does this mean for our member countries? Rising deficits and debts in countries such as the United States have serious ramifications for emerging and developing economies, who are hit by rising rates and weaker currencies. And many economies, particularly low-income countries, are alread…
Read the full article at: https://www.imf.org/en/News/Articles/2023/11/17/sp-fdmd-gopinath-remarks-at-fiscal-forum-era-of-high-debt