Soaring global debt interest costs outstrip defence spending

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Financial Times 23h ago

Soaring global debt interest costs outstrip defence spending - Financial Times

Quick Summary:

As policymakers unwind emergency bond-buying programmes, central bank holdings of government bonds have fallen by $3tn from their 2021 peak, and are expected to fall by another $1tn this year.

Adding to the expensive debt-servicing conditions is a changing profile of holders of sovereign bonds, the OECD said.

In contrast, the World Bank estimates that the same group spent 2.4 per cent of GDP on their militaries in 2023.Interest costs were 4.7 per cent of GDP in the US, 2.9 per cent in the UK and 1 per cent in Germany.