The head of the IMF said the global economy is on track for a soft landing, but the outlook for growth is tepid and rising trade barriers are a headwind.

The head of the International Monetary Fund cautioned on Thursday that high government debt and low growth remained major impediments to the global economy.

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.

Neither campaign has made government budget deficit reduction a major campaign issue, despite historic deficits and a national debt that as a share of the economy could soon surpass that seen during World War Two.