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OECD: Government Debt Costs Soar to 16-Year High

3/21/2025

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Summary

Story summary

OECD reveals that debt financing costs for member governments hit a 16-year high at 3.3% of GDP.
The US represents over two-thirds of OECD gross borrowing, with interest payments exceeding military and public safety budgets.
A record $17 trillion in bonds is expected to be issued by governments in 2024 due to rising refinancing costs.
High-risk countries are struggling with refinancing, as many debts are maturing amid rising interest rates.

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Story summary

OECD reveals that debt financing costs for member governments hit a 16-year high at 3.3% of GDP.
The US represents over two-thirds of OECD gross borrowing, with interest payments exceeding military and public safety budgets.
A record $17 trillion in bonds is expected to be issued by governments in 2024 due to rising refinancing costs.
High-risk countries are struggling with refinancing, as many debts are maturing amid rising interest rates.