The World Owes Almost as Much as It Makes

Global debts are near 100% of world output, like owing a year's income, highest since World War II, International Monetary Fund head Kristalina Georgieva warned. In Singapore Oct. 7 before Bangkok meetings, she urged big economies to spend less, saying growth alone can't fix it, needing 'very tough political choices.' Rising borrowing costs raise interest payments as military spending grows.