New Delhi, March 23 -- Governments across the world are increasingly likely to tap private sector wealth to manage rising debt levels, primarily through indirect measures such as financial repression and selective taxation, according to a report by UBS.

The report noted that government debt levels remain elevated compared to historical standards, with developed economies projected to see debt reach over 113 per cent of GDP in the coming years. However, it emphasised that the ability to finance debt, rather than the absolute level, remains the key concern.

"Government debt is almost never repaid," the report said, adding, "it is the ability to finance debt that matters."

Highlighting the scale of global wealth, UBS said private sector w...