IMF chief urges the U.S. and other wealthy nations to rein in debt

We believe that growth, of course, helps, but it cannot deliver fast enough the necessary adjustments.

— Kristalina Georgieva, IMF managing director

U.S. national debt

40 US$ trillion

Speaking at the IMF and World Bank meetings in Bangkok, Georgieva said growth alone will not fix a U.S. national debt of more than US$40 trillion, and the deficit must come down.

A decade ago

6% of revenue

Now

14% of revenue

Rising bond yields in rich countries spill over to the poorest: their debt service costs have climbed to 14 per cent of revenue, from 6 per cent a decade ago.

The IMF's advice

China: spend more at home
U.S.: save more
Europe: invest more

Georgieva's advice to the largest economies: China needs to spend more at home, the U.S. has to save more and Europe has to invest more.

Economy · 19 d ago

IMF chief urges the U.S. and other wealthy nations to rein in debt

We believe that growth, of course, helps, but it cannot deliver fast enough the necessary adjustments.

Speaking at the IMF and World Bank meetings in Bangkok, Georgieva said growth alone will not fix a U.S. national debt of more than US$40 trillion, and the deficit must come down.

Rising bond yields in rich countries spill over to the poorest: their debt service costs have climbed to 14 per cent of revenue, from 6 per cent a decade ago.

Georgieva's advice to the largest economies: China needs to spend more at home, the U.S. has to save more and Europe has to invest more.

IMF chief urges the U.S. and other wealthy nations to rein in debt

Also read