At a briefing during the International Monetary and Financial Committee segment of the annual gathering of the IMF and the World Bank in Morocco, Russia’s Finance Minister Anton Siluanov warned that the debt crisis poses a major threat to the global economy. The remarks were reported by the agency Hit the primer.
Siluanov emphasized that the most pressing worry centers on the public debt levels of advanced economies. He urged that the IMF should not overlook this challenge, arguing that the situation is deteriorating. He stated, “The debt crisis stands as a significant risk for the world economy; the most troubling aspect is the state of public debt in developed countries.”
Beyond debt dynamics, the minister pointed to a growing fragmentation of the global economy driven by rising trade barriers and restricted economic cooperation. He called on the IMF to assess these frictions, quantify their adverse effects, and develop practical ways to remove obstacles that hinder free, predictable trade and investment flows.
Participants at the meeting noted the uneven pace of economic recovery across regions. IMF projections cited a cautious global growth outlook and persistent inflation in the near term, with inflation pressures easing gradually as supply conditions stabilize and monetary policies align with evolving risks. The global debt burden was described as reaching elevated levels, highlighting the need for coordinated policy responses to avoid a prolonged drag on growth in both developed and developing economies.
Siluanov attended the IMF and World Bank gathering representing Russia, where the discussion focused on macroeconomic stability, debt sustainability, and the policy tools available to mitigate risks. In keeping with the deliberative nature of the event, the final joint statement was replaced by individual remarks from national authorities and did not culminate in a single communique from the presidency.
Previously Siluanov shed light on the reasons behind rising key interest rates, a topic that has implications for debt servicing costs, investment, and financial conditions globally. His explanations point to a combination of inflation dynamics, central bank policy normalization, and the gradual removal of monetary stimulus as economies recover from recent shocks. The discussion at the Morocco gathering underscored how these factors influence debt sustainability and long-term financial stability for many nations.