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Wednesday, March 22, 2023

Global debt hits new record of $305T in Q1

EconomyGlobal debt hits new record of $305T in Q1

World (The Times Groupe)- The Institute of International Finance (IIF) reported that global debt hit a new high of $305 trillion in the first quarter of 2022, equal to 348% of gross domestic product (GDP).

The figure increased $3.3 trillion from a year ago, largely driven by China (up $2.5 trillion) and the United States (up $1.8 trillion), the IIF said in a statement.

In the first three months of 2022, emerging market (EM) debt is nearing a record $100 trillion, according to the report.

Global debt-to-GDP ratio declined by 15 percentage points year-on-year to 348% in the first quarter due to inflation.

A surge in EM government debt levels has brought debt transparency to the forefront, according to the institution.

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