The International Monetary Fund has warned governments to address rising debt burdens as global public debt approaches 100 per cent of Gross Domestic Product.
According to The Guardian, IMF Managing Director Kristalina Georgieva issued the warning in Singapore ahead of the IMF-World Bank Annual Meetings.
She said global economic stability faced growing pressure from high energy prices, borrowing costs and increasing public debt.
IMF urges financial discipline
Georgieva warned that public debt was approaching levels last seen after the Second World War.
She urged governments to introduce credible fiscal policies rather than delay necessary decisions.
“You have the tools; now acquire the wisdom to use them,” she told policymakers.
The IMF chief also called on emerging economies to strengthen their financial buffers and improve their ability to withstand external shocks.
Nigeria defends debt position
Meanwhile, presidential spokesman Bayo Onanuga defended Nigeria’s borrowing record, saying the country remained among Africa’s less indebted economies relative to GDP.
“Our country is not among Africa’s most indebted countries,” Onanuga said.
He put Nigeria’s debt-to-GDP ratio at approximately 35 per cent.
Government figures showed public debt at about N166.7 trillion as of the second quarter of 2026.
Energy prices remain concern
Georgieva also warned that disruptions to energy supplies and shipping routes could keep oil prices elevated.
The IMF urged governments to balance economic growth with sustainable debt management as global financial conditions remain uncertain.
