China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
The International Monetary Fund (IMF) has projected that the world’s total public debt will exceed $100 trillion for the first time in 2024, driven by increased government spending and slower economic growth. This alarming trend highlights the need for urgent fiscal policy changes as debt levels soar.
Key Findings from the IMF Fiscal Monitor
According to the IMF's latest Fiscal Monitor report, global public debt is expected to reach 93% of global GDP by the end of 2024, approaching 100% by 2030—a significant increase from 89% in 2019. The report warns that current debt projections may underestimate future outcomes due to political pressures favoring higher spending, particularly in the U.S., the world's largest economy.
Political Landscape and Campaign Promises
As the U.S. presidential election approaches, candidates from both parties are proposing new tax cuts and spending initiatives. Republican candidate Donald Trump's plans could add approximately $7.5 trillion to the national debt over ten years, while Kamala Harris, the Democratic nominee, may add about $3.5 trillion. These promises could exacerbate already rising debt levels.
The Need for Fiscal Consolidation
The IMF emphasizes the importance of fiscal consolidation during this period of solid growth and low unemployment. Current efforts, averaging 1% of GDP over the next six years, are inadequate to stabilize debt levels. The report suggests that a cumulative tightening of 3.8% is essential to achieve fiscal sustainability.
Conclusion
With projections indicating a potential rise to 115% of global GDP in a severely adverse scenario, countries like the U.S., China, and several others face significant fiscal challenges. To mitigate these risks, the IMF urges countries to implement credible fiscal plans to enhance resilience against future economic shocks.
