A senior US Treasury adviser has challenged the International Monetary Fund’s warning that economic growth alone cannot stabilise America’s rising federal debt, questioning the institution’s forecasting record.
David Zervos, recently appointed counselor to Treasury Secretary Scott Bessent, told CNBC that the IMF had repeatedly misjudged economic developments, citing past forecasts involving the global financial crisis, Russia and Argentina.
Many economists remain concerned about rising interest payments and persistent deficits, although they disagree on whether the United States faces a full-scale fiscal crisis.
Meanwhile, global debt exceeded $365 trillion in the first half of the year. The Institute of International Finance has warned that short-term political responses could limit governments’ ability to fund public services.
Related Tweet:
The impressive OUTPERFORMANCE of the long end of the US Treasury market versus its global peers —> https://t.co/tomOF0mmsj
— David Zervos (@DavidZervosDC) October 9, 2026
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