VOT Research Desk
The International Monetary Fund (IMF) reported in a blog post on Monday that the total public and private global debt decreased to 247% of GDP in 2021 from 257% in 2020, which was the largest one-year decrease in seven decades.
Although the IMF recommended governments to pursue fiscal policies to lessen inflationary pressures, it also predicted that high inflation will continue to lower debt levels in 2023.
The IMF additionally cautioned that managing high debt levels would become more challenging if the outlook for the world economy continued to deteriorate.
