Higher tariffs and heightened geopolitical tensions may push government debts to new highs over the coming years, making the need for policymakers to outline robust plans for containing the surge more pressing,

The International Monetary Fund warned that global public borrowing will likely surge this year as trade tensions triggered by the US lead to slower economic growth and more volatility on financial markets.

Economic pressures from steep new U.S. tariffs will push global public debt above pandemic-era levels to nearly 100% of global GDP by the end of the decade as slower growth and trade strain government budgets,