Global debts are rapidly growing

Baku. 23 November. REPORT.AZ/ The volume of global debt, including the state, corporate and financial sectors and households, broke the record in the second quarter with an increase of $ 11 trillion or 5.1% up to $ 226 trillion.

Report informs citing the Institute of International Finance, GDP ratio in debts decreased by 1% to 324%.

Experts are worried about an increase in the number of companies experiencing difficulties with debt servicing. Even at low rates, the share of such debtors reached 15-25% in Brazil, India, Turkey and China. The number of such companies is also growing in Canada, Germany, France and the USA. In total, this year, obligations for $ 1.1 trillion should be refinanced, by late 2018 - by another $ 1.7 trillion, about 25% of this debt is in US dollars.

The total debt of developing countries in foreign currency now stands at $ 8.2 trillion (15% of their total debt), the level exceeds 40% in Hungary, Turkey, Argentina, Poland and Chile. But China, Russia, Turkey and India are waiting for maximum payments in the next year.