IMF says surging US & China debt pose risks for global public finances

International Monetary Fund (IMF) with the warnings, from the latest of their twice-yearly report on government borrowing:

• projected that U.S. government debt relative to economic output will rise by 70% by 2053, while Chinese debt will more than double by the same year
• Warns surge in US, China debt could have ‘profound’ impact on global
  economy
• Sees global
  government debt rising to 98.8% of GDP in 2029
• Also ‘critical’ that
  Italy and the UK address their debt problems
• Global election year
  set to push budget deficits higher as spending rises

Don’t tell the gold market this or everyone will buy it. Oh, wait ….

This article was written by Eamonn Sheridan at www.forexlive.com.