World Debt Hits Record $164 Trillion
- Total public and private debt has ballooned, the fund says
- Global debt clouds IMF’s otherwise upbeat economic outlook
IMF Says World Growth Is Poised to Slow
This article is for subscribers only.
The world’s debt load has ballooned to a record $164 trillion, a trend that could make it harder for countries to respond to the next recession and pay off debts if financing conditions tighten, the International Monetary Fund said.
Global public and private debt swelled to 225 percent of global gross domestic product in 2016, the last year for which the IMF provided figures, the fund said Wednesday in its semi-annual Fiscal Monitor report. The previous peak was in 2009, according to the Washington-based fund.