G7 borrowing costs reportedly hit their highest level in nearly 20 years as global government debt is projected to exceed world GDP by 2030

A user says, citing the IMF, that average G7 10-year government bond yields have risen more than one percentage point since February. The post also says global government debt is headed above 100% of world GDP by 2030, and argues that higher rates could force spending cuts, tax hikes or more borrowing while increasing mortgage and business-loan costs.