At the 2025 IMF–World Bank meetings, South African Reserve Bank Governor Lesetja Kganyago stressed that global debt levels are not just a concern for emerging markets, but threaten developed economies too. He indicated that the G20 must prioritize debt sustainability in its finance ministers’ deliberations.
IMF forecasts suggest that global public debt may exceed 100% of GDP by 2029—or even reach 123% in adverse scenarios, reminiscent of post-World War II peaks. The Financial Stability Board (FSB) has elevated debt risk as a top priority, proposing coordinated international actions.
For global finance media, it marks a turning point: debt is no longer manageable by individual states alone; it needs collective mechanisms and reforms. For South Asian outlets (India, Bangladesh, Nepal, Bhutan), the implications are direct: rising interest costs, borrowing constraints, and the necessity of fiscal prudence.
