World’s Debt Pile Is Shrinking as Economies Recover
- Global debt declined to $296 trillion in third quarter: IIF
- Decrease concentrated in mature markets; EM borrowing still up
Photographer: Soichiro Koriyama/Bloomberg
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The pile of debt around the world is finally shrinking, according to the Institute of International Finance.
Global debt declined to $296 trillion in the third quarter after reaching an all-time high in the three months prior, IIF data show. And another trillion could come off the books by year’s end as economies recover from pandemic shocks and reduce their dependence on borrowing, IIF director of sustainability research Emre Tiftik and others wrote in a note.