Global public debt will hit $100 trillion by year-end, says IMF

The IMF warned of the risks posed by unsustainable public debt levels.

Poor nations in sub-Saharan Africa are struggling the most to raise taxes while ensuring fiscal programs.

The U.S. and China account for a significant share of rising public debt levels. If the two countries were excluded from calculations, the global public debt to GDP ratio would fall around 20%, the IMF said."Public debt may be worse than it looks," IMF director of fiscal affairs Vitor Gaspar said, adding that governments' debt calculations suffer from an optimism bias and are prone to underestimation.

Unsustainable debt levels place countries' markets at risk of a sudden sell-off if investors view a country's fiscal health as too poor. This uncertainty, even across advanced economies with higher debt tolerance such as the U.S. and China, can lead to a spillover effect of higher borrowing costs to other economies.

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