Global Debt Reaches a Record USD 226 Trillion
In 2020, we observed the largest one-year debt surge since World War II, with global debt rising to USD 226trn as the world was hit by a global health crisis and a deep recession. Debt was already elevated going into the crisis, but now governments must navigate a world of record-high public and private debt levels, new virus mutations, and rising inflation.
Global debt rose by 28 percentage points to 256% of GDP, in 2020, according to the latest update of the IMF’s Global Debt Database.
Debt increases are particularly striking in advanced economies, where public debt rose from around 70% of GDP, in 2007, to 124% of GDP, in 2020. Private debt, on the other hand, rose at a more moderate pace from 164% to 178% of GDP, in the same period.
Follow & share @TransAmericanFriends
