IMF: Global debt will reach $100 trillion in 2024 🤯
Our forecasts point to an unrelenting combination of low growth and high debt – a challenging future. Governments must work on reducing debt and rebuilding buffers for the next shock – which will inevitably come, perhaps sooner than we expect.
In translation from IMF language: the world is on the brink of a new financial crisis, and current actions by authorities are only worsening the situation.
China and the US are the main contributors to the global debt surge 🍸
The IMF urges politicians to reduce budget deficits by cutting spending and raising taxes. However, authorities are reluctant to lose political ratings and are merely planning to delay the crisis as long as possible.😕
