IMF chief urges governments to tighten belts as global debt levels soar
IMF Managing Director Kristalina Georgieva warned that soaring global debt and rising bond yields are pressuring public finances. She said major economies will need to adopt tighter fiscal policies and make difficult spending choices to keep debt sustainable. Georgieva urged governments to tighten belts and prioritize debt reduction as borrowing costs climb, stressing the risk to budgets worldwide.