Analysts warn that time is running short for France to address its ballooning deficit, as another government's survival is put at risk by the budget fight.
Kristalina Georgieva told the BBC that global shocks have pushed debt levels up "like a staircase not to heaven."
As the chancellor prepares the autumn budget, a Guardian analysis argues that US President Donald Trump's policies are contributing to rising government borrowing costs and other economic pressures facing Britain.
The Treasury paid 5.82% interest on a £4bn bond sale, the steepest rate in over 25 years, threatening to erode the chancellor's budget headroom.