Fiscal support amid pandemic pushes global public debt to 98% of GDP

Global public debt is estimated to have reached 97.6 percent of the world’s gross domestic product at the end of 2020, as countries took aggressive fiscal action to cushion the impact of the coronavirus pandemic, the International Monetary Fund said Thursday. Fiscal support reached nearly $14 trillion, up by about $2.2 trillion since October, the Washington-based institution said in an update of its Fiscal Monitor Report. Before the pandemic began to accelerate in early 2020, the IMF had projected public debt worldwide would hit 84 percent at the end of the year. The figure is now expected to …

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