Higher tariffs and heightened geopolitical tensions may push government debts to new highs over the coming years, making the need for policymakers to outline robust plans for containing the surge more pressing,

Global public debt peaked in 2020 as governments borrowed heavily for COVID-19 relief. But it has been edging back up, and now it's accelerating.

Economic pressures from steep new U.S. tariffs will push global public debt above pandemic-era levels to nearly 100% of global GDP by the end of the decade as slower growth and trade strain government budgets,

Treasury Secretary Scott Bessent said the U.S. remains committed to playing a leadership role in the IMF and World Bank but wants to see changes.

U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

The International Monetary Fund and the World Bank "must be made fit for purpose again," US Treasury Secretary Scott Bessent said Wednesday, arguing the institutions should be promoting economic growt

The International Monetary Fund is sounding alarms about slowing economic growth and the potential for a U.S. recession rising. This comes as President Trump walks back comments about Fed Chair Jerome Powell's firing and as his take on a trade deal with China.