IMF warns global debt surge

Global debt is on a rising path following trade and market turmoil, the IMF announced in the Fiscal Monitor Report released on Wednesday in Washington, DC. The IMF sees the global economy slowing, but not yet bound for recession, a respite that could be a cushion period for governments to make spending adjustments to bring down deficits and debt. 

But policy makers should look for smart ways to trim budgets, and ones that maintain equitable and fair revenue from taxes, while maintaining important investments in people, technology and infrastructure that support growth.