Abstract
Based on the analysis of statistical data, the article covers the dynamics and changes in the structure of global public debt, which plays an essential role in ensuring and maintaining financial stability. The authors conclude that the problem of sovereign debt is of a deep nature, since it is associated with the dominant model of economic development that encourages the growth of credit dependence that is not backed by real assets. Within the framework of the credit model of economic development, any measures taken to solve debt problems will be cosmetic in nature, therefore, in the coming years, the growth of global public debt will continue, the instability of the global monetary and financial system will increase, the likelihood of crisis situations (up to sovereign defaults) will persist.