Global debt reaches peak of USD305T in January-March period| MENAFN.COM

Wednesday, 29 June 2022 06:30 GMT

Global debt reaches peak of USD305T in January-March period


(MENAFN) On Wednesday, the Institute of International Finance (IIF) mentioned in a report that international debt hit its peak of USD305 trillion in the January-March period of 2022, nearly 348 percent of gross domestic product (GDP).

the IIF stated in an announcement the number increased USD3.3 trillion from 2021, mainly motivated by China (up USD2.5 trillion) and the US (up USD1.8 trillion).

Emerging Market (EM) debt is approaching an all-time high of USD100 trillion in the first quarter of this year, following the announcement.

Replicating the increase in inflation, international debt-to-GDP percentage dropped for a fourth consecutive quarter in the first three months by 15 percentage points yearly to 348 percent.

The institution underlined that the increase in EM administration debt levels has put debt clearness in the attention.

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