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Global debt hits $244 trillion

17/01/2019
Reading Time: 1 min read
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The world’s debt pile is hovering near a record at $244 trillion, which is more than three times the size of the global economy, according to an analysis by the Institute of International Finance.

The global debt-to-GDP ratio exceeded 318 percent in the third quarter of last year, despite a stronger pace of economic growth, according to a report by the Washington-based IIF released on Tuesday. That’s slightly below a record 320 percent of GDP in the same quarter of 2016.

With interest rates rising globally, the International Monetary Fund has warned governments to rein in soaring levels of debt and rebuild buffers against future risks.

Key Insights

  • Total government debt exceeded $65 trillion in 2018, up from $37 trillion a decade ago, and rose faster in mature markets
  • Non-financial corporate debt rose to over $72 trillion last year, now near an all-time high of 92 percent of GDP
  • Household debt grew by over 30 percent to $46 trillion helped by strong growth in emerging markets, notably from China; though Czech Republic, India, Mexico, Korea, Malaysia and Chile all recorded more than 20 percent increases since 2016
  • Financial sector indebtedness rose to about $60 trillion, up 10 percent from a decade earlier

Credit: Bloomberg

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