Global public debt is projected to exceed $100 trillion by the end of 2024, with the U.S. and China significantly contributing to this rise. The IMF warns of an "optimism bias" in government debt calculations, highlighting a fiscal policy trilemma faced by nations, particularly in sub-Saharan Africa, where the need for spending clashes with limited tax capabilities. Unsustainable debt levels could trigger market sell-offs, affecting borrowing costs globally, as evidenced by the U.S. budget deficit reaching $1.833 trillion, the highest outside the pandemic era.
