Global Debt Hits New Record

In a recent study, the Institute of International Finance (IIF) revealed that global debt soared to a new peak of $313 trillion in 2023, marking a significant increase from previous years. Developing economies, in particular, witnessed a surge in the ratio of debt to their gross domestic product (GDP), reaching unprecedented levels.

According to the IIF's Global Debt Monitor, global debt escalated by over $15 trillion year-on-year in the final quarter of 2023, with mature markets, notably the U.S., France, and Germany, contributing around 55% to this surge. The data indicates a substantial growth compared to around $210 trillion a decade ago.

https://www.reuters.com/business/global-debt-hits-new-record-high-313-trillion-iif-2024-02-21/#:~:text=LONDON%2C%20Feb%2021%20(Reuters),domestic%20product%2C%20a%20study%20showed.

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