As a result of the monetary policy of the leading central banks, which have eased financial conditions since the global financial crisis, the debt of the non-financial sector increased from 138% to 152% of GDP by the end of 2019, according to a report released by the International Monetary Fund (IMF).
According to the IMF, debt in the non-financial corporate sector has also increased:
"As of the end of 2019, debt in the non-financial corporate sector reached a record high, climbing to 91% of GDP. On this date, household debt rose to 60% of GDP. However, in the first quarter of 2020, the support provided by countries to businesses softened the terms of financing.
Compared to the end of 2019, in the third quarter of 2020, the debts of global non-financial cooperatives and households increased by 11 percentage points and five percentage points, respectively.