The mountain of global debt is of particular concern because of the sharp series of interest rate increases in the US. The threat that debt levels in different sectors of the economy pose to financial markets should be more clearly communicated.
The world has witnessed a staggering surge in global debt, reaching an unprecedented high of $313 trillion in 2023, as reported by the Institute of International Finance (IIF), a financial services trade group.
The IIF's Global Debt Monitor revealed that this record-breaking figure represents an increase of over $15 trillion in the last quarter of 2023 year-on-year, emphasising the monumental growth from around $210 trillion almost a decade ago.
Global debt levels have climbed to a new record high of $313 trillion in 2023, a recent study showed, with developing economies scaling a fresh peak for.