Fiscal Monitor October 2024: Putting a Lid on Public Debt
Fiscal Monitor, October 2024
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- Fiscal Monitor October 2024: Putting a Lid on Public Debt
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Bibliographic details
- Published: October 23, 2024
Overview
- High debt is a concern.
- The chapter quantifies the risks surrounding public debt outlook and sets out policies to rebuild fiscal buffers to address those risks.
- Global public debt is elevated and is projected to exceed US$100 trillion in 2024 and will rise over the medium term.
- Risks to the debt outlook are heavily tilted to the upside.
Key statistics and projections
- Global public debt is projected to exceed US$100 trillion in 2024.
- In a severely adverse scenario, global debt is estimated to be nearly 20 percentage points of GDP higher three years ahead than the baseline projection, reaching 115 percent of GDP.
Risks and scenarios
- Risks to the debt outlook are heavily tilted to the upside.
- Severely adverse scenario: global debt nearly 20 percentage points of GDP higher three years ahead than baseline, reaching 115 percent of GDP.
Findings on policy needs
- Much larger fiscal adjustments than currently planned are required to stabilize (or reduce) debt with high probability.
- Now is an opportune time for rebuilding fiscal buffers and delaying is costly.
Policy recommendations
- Rebuild fiscal buffers in a growth-friendly manner.
- Strengthen fiscal governance.
- Prioritize actions to ensure sustainable public finances and financial stability.
Fiscal Monitor October 2024: Putting a Lid on Public Debt — https://www.imf.org/en/publications/fm/issues/2024/10/23/fiscal-monitor-october-2024
Content in this bundle
- 2024octfiscalmonitordatabase
- ch1-onlineannex-databaseoa — Dataset overview
- Chapter 1
- ch1database
- Executive Summary
- Foreword
- METHODOLOGICAL AND STATISTICAL APPENDIX - Fiscal Monitor October 2024
- Chapter 1 Online Annexes. IMF Fiscal Monitor, October 2024
- Preface
- Full Report