Global Debt Projected To Touch Almost 100% In 2021 Amid COVID-19 Crisis: IMF In its latest fiscal monitor update, the International Monetary Fund said that the global public debt is estimated to touch 98 per cent of GDP at the end of 2020
Updated: January 28, 2021 7:39 pm IST
Global public debt is projected to edge up from 98 per cent of GDP in 2020 to 100 per cent of GDP in 2021
Global public debt is estimated to touch 98 per cent of GDP at the end of 2020, International Monetary Fund (IMF) said on Thursday in its latest fiscal monitor update, according to which the government debt in India is expected to remain elevated at 83 per cent of GDP. The COVID-19 pandemic has posed a severe challenge to public finances, the report said noting that the contraction in output and ensuing fall in revenues, along with emergency lifelines, boosted government deficits and debts beyond levels recorded during the global financial crisis.