Global Debt Explodes at ‘Eye-Watering’ Pace to Hit £170 Trillion
Global debt has climbed at an ‘eye-watering’ pace over the past decade, soaring to a fresh high of £170 trillion last year, according to the Institute of International Finance (IIF).
The IIF said total debt levels, including household, government and corporate debt, climbed by more than $70 trillion over the last 10 years to a record high of $215 trillion (£173 trillion) in 2016—or the equivalent of 325% of global GDP.
It said emerging markets posed a growing source of concern to financial stability and the global economy as debt burdens in these countries climb at a rapid pace.
Chan discusses growing vulnerabilities; governments leading advanced economy debt rise; and the emerging market debt boom.