Global debt is at record levels: it grew by $10 billion in the first quarter
Markets such as the United States, Japan, the United Kingdom and France led debt growth, according to a report by the Institute of International Finance.
Yves Hermann/Reuters
The value of global debt reached $307 billion in the second quarter of this year, after an increase of $10 billion in the first half of this year alone. In the past ten years, the increase has reached 100 billion.
Markets such as the United States, Japan, the United Kingdom and France led debt growth, according to a report by the Institute of International Finance (IIF), cited by Reuters and Bloomberg. In emerging markets, the largest increases were observed in China, India and Brazil.
Global debt has grown despite successive increases in interest rates by many central banks which have tightened credit provisions.
Global debt represents 336% of global GDP, a figure compared to 334% at the end of last year. The percentage will continue to rise, as the institute expects it to reach 337% by the end of this year, driven primarily by the large government deficit. However, this value remains lower than the 362% recorded in the first quarter of 2021.
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Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
