Mumbai, Oct. 9 -- International Monetary Fund (IMF) Managing Director Kristalina Georgieva has stated that global public debt is projected to exceed 100 percent of GDP by 2029, led by advanced and emerging market economies. Rising debt inflates interest payments, exerts upward pressure on borrowing costs, constrains other spending, and reduces governments' ability to cushion shocks. One casualty is advanced economies' development assistance to the world's neediest countries, which continues its regrettable decline. For the low-income countries on the receiving end, this means more self-help-including setting a minimum tax-to-GDP target of 15 percent. She noted that in the US, both private consumption and the fiscal deficit are high and th...
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