A top IMF official on Friday warned that the global public debt is expected to exceed 100 per cent of the GDP in 2020-21, and the average overall fiscal deficit is expected to soar to 14 per cent of the GDP in 2020, pointing out that never have public debt and deficits risen so high and so fast. The steep contraction in output and ensuing fall in revenues along with a sizable discretionary support have led to a surge in the government debt and deficits, Vitor Gaspar, Director of the International Monetary Fund (IMF’s) Fiscal Affairs Department told PTI. Global public debt is expected to reach an all-time high, exceeding 100 per cent of the GDP in 2020?21, a surge of almost 20 percentage points from a year ago, he said, adding that the rise in debt is most significant among advanced economies such as the US, Japan and those in Europe.