Meetings Calendar

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Global public debt rose to 94 percent of GDP in 2025 and is set to reach 100 percent by 2029. This accumulation is driven largely by the world’s major economies. Public finances are under strain from mounting spending pressures—on social needs, defense, and strategic autonomy—and rising interest burdens. The fiscal consequences of the Middle East conflict add further to these fragilities. Structural shifts in sovereign debt markets—including the growing role of leveraged nonbank intermediaries and erosion of the US Treasury’s safety premium—are amplifying vulnerability to repricing. Credible, well-sequenced fiscal adjustment is urgently needed across all country groups.