Global public debt is on track to match the size of the world economy in the coming years, new projections from the International Monetary Fund show. Why it matters: That gloomy fiscal outlook in major economies risks triggering market turmoil around the world.

Global public debt is forecast to exceed $100tn by the end of this year, underscoring the need for tougher action to stabilise borrowing in major economies around the world, the IMF has said.

Global public debt is expected to reach a record $100 trillion this year, the IMF said Tuesday, warning that the fiscal outlook for many countries may be even "worse than expected."