Global Debt Hits Record $296 Trillion as World Lockdowns Ease
- Global debt grew $4.8 trillion in the second quarter, IIF says
- Jump in first half was led by borrowing by households
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Global debt loads surged during the second quarter as households seized on low mortgage rates and governments continued borrowing heavily to revive pandemic-battered economies.
The amount of the world’s outstanding debt swelled during the three months by about $4.8 trillion to a record $296 trillion, according to a report by the Institute of International Finance.