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IMF warns global debt could hit 123% of GDP by decade’s end, nearing WWII levels | The Express Tribune
Warns of possible “disorderly” market correction that could trigger fiscal-financial “doom loop”
Global public debt is projected to rise above 100% of gross domestic product (GDP) by 2029, reaching its highest level since 1948 and continuing to climb, the IMF said on Wednesday, urging countries to build up buffers to guard against economic risks, Reuters reported.
Vitor Gaspar, head of the International Monetary Fund (IMF)’s fiscal affairs department, said global public debt levels could soar as high as 123% of GDP by the end of the decade under an “adverse, but plausible scenario,” just under the all-time high of 132% reached just after World War Two.
“From our viewpoint, the most concerning situation would be one in which there would be financial turmoil,” he said in an interview, citing a separate IMF report released on Tuesday that warned of a possible “disorderly” market correction.
That could unleash a fiscal-financial “doom loop”, like the one that occurred during the European sovereign debt crisis that began in 2010, Gaspar said.
Concerns over new US-China trade war
The IMF this week edged up its 2025 global growth forecast given a more benign impact from tariffs, although it warned that a renewed US-China trade war – which escalated after the numbers were locked in – could slow output significantly.
Gaspar said the highly uncertain outlook made fiscal reforms more important than ever, and the IMF was urging both advanced economies and developing countries to reduce their debt levels, cut deficits and build up buffers.
“With quite significant risks on the horizon, it’s important to be prepared, and preparation requires having fiscal buffers that allow authorities to respond to severe adverse shocks in the eventuality of a financial crisis,” he said.
Previous research by the IMF showed that countries with more fiscal space were better able to limit damage to employment and economic activity in the event of severe adverse shocks combined with a financial crisis, said Gaspar.
In its latest Fiscal Monitor, the IMF noted that rich economies had public debt levels already greater than 100% of GDP, or projected to surpass that level, including the United States, Canada, China, France, Italy, Japan and Britain.
Their risk is considered low-to-moderate since these countries have deep sovereign bond markets and more policy choices, while many emerging markets and low-income countries have fewer resources and face higher borrowing costs, despite their relatively low debt ratios.
Borrowing is far more expensive now than the period between the global financial crisis of 2008-2009 and the pandemic that began in 2020, Gaspar said. Rising interest rates are pressuring budgets at a time when demands are high due to geopolitical tensions, increasing natural disasters, disruptive technologies and aging populations.
“While we do recognise that the fiscal equation is very hard to square politically, the time to prepare is now,” he wrote in a forward to the fiscal monitor, noting that targeted public spending for education and infrastructure could boost GDP.
Investing in human capital could boost growth
Allocating just one percentage point of GDP from current spending to education or other human capital investment could boost GDP by more than 3% by 2050 in advanced economies, and almost twice as much in emerging market and developing economies, the IMF said.
In the US, public debt to GDP surpassed the post-World War Two peak during the Covid pandemic, and it is projected to surpass 140% of GDP by the end of the decade, Gaspar said.
He said IMF officials would urge US authorities to stabilise debt by shrinking the budget deficit during an upcoming review of the US economy that starts next month.
Cutting the US deficit would help rebalance the US economy, while freeing resources for the private sector in the US and around the world, helping to lower interest rates and making financing conditions more favourable, Gaspar said.
China’s public debt was also rising sharply, surging from 88.3% of GDP to an expected 113% by 2029, said the IMF, which is also planning a regular review of China’s economy next month.
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National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Gold price today: How much 22K, 24K gold cost in Delhi, Patna & other cities – Check rates – The Times of India
Gold prices climbed to a fresh lifetime high in the domestic market on Thursday amid sustained buying by jewellers and stockists, according to the All India Sarafa Association.Gold advanced by Rs 800 to hit a new peak of Rs 1,47,300 per 10 grams (inclusive of all taxes), extending gains for the fifth consecutive session. The yellow metal had closed at Rs 1,46,500 per 10 grams in the previous session.Since the start of 2026, gold prices have surged Rs 9,600, or around 7 per cent, supported by persistent demand in the physical market. In overseas trade, spot gold slipped USD 12.22, or 0.26 per cent, to USD 4,614.45 per ounce, after having touched a record high of USD 4,643.06 per ounce in the previous session.Here is how much gold costs in major Indian cities today:
Gold price in Delhi today
The price of 22K gold in Delhi is Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Chennai today
In Chennai, 22K gold costs Rs 13,290 per gram, up Rs 10, while 24K gold is priced at Rs 14,498 per gram, higher by Rs 10.
Gold price in Mumbai today
Mumbai markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Ahmedabad today
In Ahmedabad, 22K gold is priced at Rs 13,130 per gram, down Rs 75, while 24K gold costs Rs 14,323 per gram, lower by Rs 82.
Gold price in Kolkata today
Kolkata markets price 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Jaipur today
In Jaipur, 22K gold costs Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Hyderabad today
Hyderabad sees 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold is priced at Rs 14,318 per gram, lower by Rs 82.
Gold price in Bhubaneswar today
Bhubaneswar markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold costs Rs 14,318 per gram, lower by Rs 82.
Gold price in Patna today
In Patna, 22K gold costs Rs 13,130 per gram, down Rs 75, while 24K gold is priced at Rs 14,323 per gram, lower by Rs 82.
Gold price in Lucknow today
Lucknow markets see 22K gold priced at Rs 13,140 per gram, down Rs 75, while 24K gold costs Rs 14,333 per gram, lower by Rs 82.
National Startup Day 2026: How India’s Startups Are Shaping The Future
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