IMF Warns Low Growth, Less Trade and Debt Imperil World’s Future
- Fund sees global public debt on course to reach $100 trillion
- US election looms as finance officials converge on Washington
The fund warned this week that global public debt is set to reach $100 trillion, or 93% of global gross domestic product, by the end of this year.
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The International Monetary Fund warned that wars, trade tensions, high debt and low growth threaten to prolong a lackluster economic era and leave nations without the resources to reduce poverty and confront climate change.
Higher consumer prices globally, conflict in the Middle East and Europe, and “far from good enough” medium-term growth prospects are reasons to be cautious despite an expected economic soft-landing, Managing Director Kristalina Georgieva said in a speech prepared for delivery Thursday in Washington.