The IMF has warned that global public debt will exceed $100 trillion by the end of the year, highlighting soaring fiscal deficits in the US and China. In his latest Macro Monday update, Chris Holdsworth, Chief Investment Strategist at Investec Wealth & Investment International, examines this and other key themes from last week’s 2024 IMF/World Bank Annual Meetings in Washington. He also looks at the latest economic indicators that show a slight recovery in US consumer confidence and highlights a moderately positive US reporting season. Turning to South Africa, Holdsworth unpacks the latest inflation figures that show a steady decline.