COMING SOON

October 2024 Fiscal Monitor; WEDNESDAY, OCTOBER 23 @ 9:00 AM ET

Press Briefing, Fiscal Monitor Report, Fiscal Monitor Database, & Methodological and Statistical Appendix

Panelists:

Vitor Gaspar, Director, Fiscal Affairs Department, IMF

Era Dabla-Norris, Assistant Director, Fiscal Affairs Department, IMF

Davide Furceri, Division Chief, Fiscal Affairs Department, IMF

Moderator:

Tatiana Mossot

** The report and the live webcast of the press conference will be available on this page **

Putting a Lid on Public Debt

Fiscal Monitor october 2024: Putting a lid on Debt

Global public debt is elevated. It is projected to exceed US$100 trillion in 2024 and will rise over the medium term. This chapter shows that risks to the debt outlook are heavily tilted to the upside. 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. 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. Rebuilding fiscal buffers in a growth-friendly manner and strengthening fiscal governance is essential to ensure sustainable public finances and financial stability.

Chapter in the Report

Chapter 1: Putting a Lid on Public Debt

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.