The head of the International Monetary Fund has warned the UK and US to take action on spiralling debt costs, saying economic shocks had driven debt levels sharply upward, according to the BBC.
Key facts
- The IMF has warned the UK and US to take action on spiralling debt costs, according to the BBC.
- IMF chief Kristalina Georgieva made the comments in an interview with the BBC.
- Georgieva said economic shocks had pushed debt levels up 'like a staircase not to heaven'.
The International Monetary Fund has warned the UK and the US to take action on spiralling debt costs, according to the BBC. The comments were made by IMF chief Kristalina Georgieva in an interview with the broadcaster.
Georgieva said that economic shocks had pushed debt levels higher, describing the trajectory as ‘a staircase not to heaven’, the BBC reported.
The BBC did not detail specific policy measures being recommended, and further context from the interview was not available in the material reviewed.
Why it matters
Rising debt costs can strain government budgets in two of the world's largest economies. A warning from the head of the IMF signals that the issue is drawing attention from a major international financial institution.
Frequently asked questions
Who issued the warning to the UK and US?
The warning came from Kristalina Georgieva, the managing director of the International Monetary Fund, in an interview with the BBC.
What did the IMF chief say about debt levels?
Georgieva said economic shocks had pushed debt levels up 'like a staircase not to heaven,' according to the BBC.
Which countries were the warning aimed at?
The IMF's warning was directed at the UK and the US.