Reported 12 months ago
Reports indicate that the total global government debt has reached an unprecedented $91 trillion, almost equivalent to the size of the global economy, posing a serious threat to living standards worldwide. The International Monetary Fund (IMF) has directly called out the United States to urgently address the 'chronic fiscal deficit' issue, attributing part of the debt increase to borrowing for economic stimulus due to the pandemic. The IMF warns that failure to tackle the escalating debt burden could lead to increased inflation and potentially trigger a new financial crisis.
Source: YAHOO