The International Monetary Fund (IMF) has cautioned that the escalating level of US government debt could lead to increased borrowing costs worldwide and jeopardize global financial stability.
In its statement on Wednesday, the IMF highlighted that elevated government spending, mounting public debt, and heightened interest rates in the United States have contributed to elevated and fluctuating yields on Treasuries. This situation raises the prospect of higher rates in other regions.
The IMF’s analysis revealed that a surge in yields on long-term US government bonds is correlated with similar increases in government bond yields across both advanced and developing economies. The latter also experience exchange rate volatility in such scenarios.
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