Global Debt Reaches Record $88 Trillion, Prompting Fiscal Alarm

The Institute of International Finance's CEO, Tim Adams, has raised concerns about the record levels of global debt, emphasizing the urgent need for policymakers to address the "huge fiscal problem." With global debt reaching $307.4 trillion in the third quarter of 2023 and expected to rise further, Adams highlighted the risks posed by high debt levels, particularly in the context of aging populations and upcoming elections that could lead to increased populism. He stressed the importance of swiftly and intelligently addressing fiscal imbalances to avoid a potential crisis.