IMF tells advanced economies to 'bring debt down' as borrowing costs rise
Meanwhile debt interest for the month was the highest August figure since monthly records began in 1997.Higher borrowing costs have also hit the US, the world's largest economy, which has seen its debt pile surpass $40tn. These are politically tough steps to take, but necessary steps to take."Asked specifically about the UK's higher interest costs compared to other major economies, Georgieva said its position was "not very different" from others.
- ▪Meanwhile debt interest for the month was the highest August figure since monthly records began in 1997.Higher borrowing costs have also hit the US, the world's largest economy, which has seen its debt pile surpass $40tn.
- ▪These are politically tough steps to take, but necessary steps to take."Asked specifically about the UK's higher interest costs compared to other major economies, Georgieva said its position was "not very different" from others.
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| Publication time | Tue, 22 Sep 2026 23:01:28 GMT |
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IMF tells advanced economies to 'bring debt down' as borrowing costs riseImage source, Getty ImagesImage caption, Kristalina Georgieva, managing director of the IMF, issued a warning on debt levels at the UN general assembly meeting in New York City.ByFaisal Islam, Economics editor and Michael Race, Business reporterPublished5 minutes agoThe world's advanced economies including the UK and US need to cut borrowing and reduce debt levels following weeks of spiralling government interest costs, the head of the International Monetary Fund (IMF) has warned.In an exclusive interview, Kristalina Georgieva said global economic shocks had been "pushing debt levels up like a staircase not to heaven" but that governments had taken "no action to contain that service cost"."[It's] time to take that…
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