IMF chief urges belt-tightening as global debt nears 100% of GDP

IMF chief Kristalina Georgieva urged major economies to tighten budgets, warning global debt-to-GDP is at its highest since World War II and headed to 100%. Speaking in Singapore on Oct. 7 ahead of meetings in Bangkok, she said growth alone cannot ease debt and requires 'very tough political choices.' High bond yields are lifting interest bills amid defence demands.