IMF Warns of Global Economic Slowdown and Rising Debt Concerns

The IMF cautions that the world is at risk of a prolonged low-growth, high-debt trajectory, urging China to implement reforms to boost its economy.

IMF Managing Director Kristalina Georgieva highlighted the risk of the global economy becoming stuck in a slow-growth, high-debt cycle, which could lead to lower incomes and fewer jobs.
Global government debt is projected to surpass $100 trillion this year, equating to 93% of global GDP, with expectations to reach 100% by 2030.
Despite progress in controlling inflation, many populations remain dissatisfied with their economic prospects due to persistent high prices.
The IMF has adjusted China's growth forecast to 4.8% for 2024, urging the country to shift its economic model towards consumer demand to prevent further slowdown.
Geopolitical tensions and conflicts, including the Middle East escalation and US-China relations, continue to pose challenges to global economic stability.