IMF: US national debt will rise sharply

The IMF warned that US public debt will continue to rise due to increased government borrowing and spending on healthcare, social security, clean energy projects, and other domestic economic policies. The US debt-to-GDP ratio is projected to be 122.2% this year and 136.2% of GDP in 2028, up from 107.4% in 2018 and higher than the Covid pandemic-era peak of 133.5% in 2020. Recent banking problems in the US and Switzerland have added to the risks of a global financial crisis.