China, the world’s second largest economy, is the main driver of overall debt in the emerging markets category after last year Beijing unleashed a flurry of stimulus measures to revive its coronavirus-hit economy. Photo: Xinhua
China, the world’s second largest economy, is the main driver of overall debt in the emerging markets category after last year Beijing unleashed a flurry of stimulus measures to revive its coronavirus-hit economy. Photo: Xinhua

Global public debt to rise ‘modestly’ after US$14 trillion spent to tackle coronavirus economic damage, IMF says

  • Global public debt is set to reach 99.5 per cent of global gross domestic product (GDP) in 2021, up slightly from 97.6 per cent at the end of 2020, says the International Monetary Fund (IMF)
  • Its Fiscal Monitor Update also estimates that gross-debt-to-GDP ratio soared to 122.7 per cent in 2020 for advanced economies on average from 104.8 per cent in 2019

China, the world’s second largest economy, is the main driver of overall debt in the emerging markets category after last year Beijing unleashed a flurry of stimulus measures to revive its coronavirus-hit economy. Photo: Xinhua
China, the world’s second largest economy, is the main driver of overall debt in the emerging markets category after last year Beijing unleashed a flurry of stimulus measures to revive its coronavirus-hit economy. Photo: Xinhua
READ FULL ARTICLE