IMF: Global Debt is Higher and Rising Faster in 80% [59 countries] of Global Economy

 

Chart Credit: IMF.org

"Global public debt is very high and rising. According to the WEO reference projection in 2025, it will rise above 95 percent of GDP. It is higher and growing faster than pre‑pandemic. It will be approaching 100 percent of GDP by the end of the decade, surpassing the pandemic peak, but global numbers hide a wide diversity across countries. In the figure, every bubble represents a country. The larger the bubble, the larger the country's GDP. The figure shows debt levels on the vertical axis and debt growth on the horizontal axis compared to pre‑pandemic. The higher the bubble in the figure, the more debt has increased compared to 2019."

IMF Report on Global Debt

Press Briefing

Clarity on Support for Ukraine

 

photos: X.com @CaolanRob

Last night (May 24), Russia launched against several cities in Ukraine, including Kyiv, 14 ballistic missiles and 250 Shahed drones.  Ukraine shot down 6 missiles and 245 drones. The remaining missiles and drones did extensive damage and caused numerous injuries.  President Zelenskyy posted that "Rescue and emergency operations are ongoing at the sites of strikes and debris impacts — wherever they are needed. There were many fires and explosions in the city overnight. Once again, residential buildings..."

Where we stand in Russia's Invasion of Ukraine

 

Shankar Narayan, who frequently writes about Russia's invasion of Ukraine, has an insightful article at Medium.com on the meaning of Monday's call between Trump and Putin.

Narayan writes, "Putin likely walked into that call with a clear plan: smile, nod, and say a firm no.  If Ukraine won't surrender, then he's not handing Trump anything to brag about on social media.  And it looks like he executed that strategy to perfection."

As a consequence, "Trump didn't announce a ceasefire after the call.  Instead, he announced that the United States would step back from mediation entirely--and watch the war from the sidelines."

In other words, despite Trump's bluster about his good relationship with Putin and being able to end the war in 24 hours, he failed yet again.  Ukraine will have to fight on.  

 A fundamental flaw in Trump's approach, Narayan points out, is, "To expect the MAGA movement to understand the value of democracy is like expecting a dictator to understand the value of truth.  It won't happen."

To read Narayan's article, go to Medium.com at Trump Tried to End the War.  Putin Humiliated Him Instead.