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Economics

Global Debt Costs Are Soaring. Here’s Where It Will Hurt Most

With borrowing becoming pricier, risks abound for overleveraged consumers, companies and countries.

relates to Global Debt Costs Are Soaring. Here’s Where It Will Hurt Most — Photo: Alamy

By

Liz Capo McCormick,

Alexandre Tanzi and

November 30, 2022, 5:01 AM UTC

The world is emerging from the cheap-money era with a mountain of debt that’s now getting painfully expensive.

All around the globe, there are borrowers deeper in the red than ever before. The total owed by households, businesses and governments stands at $290 trillion, up by more than one-third from a decade ago, according to research by the Institute of International Finance.