RUDN Journal of EconomicsRUDN Journal of Economics2313-23292408-8986Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)11941Research ArticlePublic debt key trends and global economic challengesSheremetE Ieugen.scheremet@gmail.comPeople’s Friendship University of Russia15052012S5365012092016Copyright © 2016, Economics2016Today the level of debt of many countries close to critical, which was caused and aggravated by economic crisis of 2008—2009. and became the trigger for the so-called “Second wave” of the crisis. A key feature of this new crisis is that the main borrower countries are developed countries such as the U.S., the EU, Japan and others. Thus, we can make the assumption that defaulting of government bonds of the largest economies in the world can provoke an even deeper recession in the world economy, which could lead to a protracted recession and a repeat of the Great Depression of the 30's. It can radically change the balance of forces, both on the economic map of the world and in the political area.balance of the budgetdeficit financingpolicy of government loansthe debt crisispublic debtбаланс бюджетадефицитное финансированиеполитика государственных займовдолговой кризисгосударственный долгбаланс бюджетадефицитное финансированиеполитика государственных займовдолговой кризисгосударственный долг