World News
Facing high debt, countries must ‘calibrate’ spending: IMF
Oct. 13, 2021
WASHINGTON (AFP) - After debt loads surged last year amid the pandemic, governments now must take care to “calibrate” spending, the IMF said Wednesday. Global debt in 2020, including public and private borrowing, “jumped by 14 percent to a record high $226 trillion,” according to the International Monetary Fund‘s Fiscal Monitor report. Public debt amounts to $88 trillion, close to 100 percent of GDP, and is expected to decline only gradually, said Vitor Gaspar