IMF reports nearly 50% increase in global debt interest payments

The International Monetary Fund (IMF) reports that global public debt interest payments have increased by nearly 50% in just three years. This rise has pushed interest costs from approximately 2% to nearly 3% of global GDP, diverting essential resources away from education, infrastructure, and healthcare.

Global public debt is projected to reach levels comparable to those seen during World War II by 2028. Factors contributing to this trend include high bond yields, increased volatility in sovereign bond markets, and geopolitical conflicts that have driven up energy prices and tightened financial conditions. Some large borrowers are increasingly relying on short-term debt to manage interest payments, which increases vulnerability to sudden shifts in financing conditions.

In Spain, public debt is estimated at 99.9% of GDP. The high cost of servicing this debt competes directly with public services and pensions. Experts note that approximately 3.5 billion people live in countries where interest payments exceed spending on health or education, exacerbating global and national inequality.