IMF chief urges governments to tighten belts as global debt levels soar

Kristalina Georgieva says big economies will have to make ‘very touch choices’ as soaring bond yields hit budgets

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The head of the International Monetary Fund has called on governments across big economies to tighten their belts as soaring bond yields hit budgets.

Speaking in Singapore, the IMF’s managing director, Kristalina Georgieva, said global debt-to-GDP ratios were at their highest level since the second world war and on course to hit 100% in the coming years.

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