World Debt Surges to Record $307 Trillion, Rises as Share of GDP
- Debt up a ‘staggering’ $100 trillion in past decade, IIF says
- Liabilities as a share of global GDP fell as inflation surged
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Global debt climbed by $10 trillion in the first half of 2023, resuming its upward march as a share of the world economy after falling for close to two years as inflation surged, according to the Institute of International Finance.
Liabilities clocked in at record $307 trillion, up a “staggering” $100 trillion over the past decade, the group representing the world’s largest international banks and financial institutions said in a report released Tuesday. The US, Japan, the UK and France led the latest advance.