Sovereign bonds of advanced economies reached record $59 trillion in 2025, says Siluanov

MOSCOW, September 2. /TASS/. The volume of sovereign bonds issued by advanced economies reached a record $59 trillion in 2025, Russian Finance Minister Anton Siluanov said.

"The volume of sovereign bonds of advanced economies reached a record $59 trillion in 2025, while gross borrowing totaled $17 trillion. About 80% of this borrowing was needed to refinance previously accumulated debt," he said during a meeting of G20 finance ministers and central bank governors in Asheville, North Carolina.

During a session on global imbalances, the minister also stressed that addressing their root causes is essential to reducing them.

According to Siluanov, persistent imbalances often reflect a decline in the relative competitiveness of producers in importing countries, including lagging productivity, rising costs and insufficient investment and technology.

Siluanov said that rising government debt in the world's largest advanced economies requires a return to fiscal discipline. According to him, high debt levels are the result of persistent budget deficits.