Global sovereign debt now higher than post-WWII; IMF says situation is 'worrisome' - WSBT
Global sovereign debt now higher than post-WWII; IMF says situation is 'worrisome' - WSBT
Source: WSBT
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DW NOTE
The IMF calling something "worrisome" is like a fire chief noting that the building is warm. Global sovereign debt exceeded 100% of GDP in 2023 and has climbed since — financed at rates central banks swore were temporary. The Fed just raised to 4% with the 10-year at 5.18%, which means governments now pay interest on wartime deficits at peacetime-emergency rates. The U.S. alone ran $1.4 trillion through June. There is no scenario where this debt is repaid; the question is only which euphemism they'll use when it isn't.