Debt-to-GDP ratio
The state balance sheet improved faster than public comfort did
Debt repair is real, but the IMF still says arrears and financing needs remain unfinished business.
2020 pandemic peak
Pandemic shock peak.
100%
2024 estimate
IMF 2025 press-release estimate.
67%
2025 estimate
IMF 2026 mission estimate with arrears still unresolved.
68%



