IIF: Global debt reaches $303 trillion

At the end of last year, global debt grew by almost $10 trillion, or 3.4%, year-on-year to $303 trillion, Report informs, citing the Institute of International Finance (IIF).

According to the IIF Global Debt Monitor, more than 80% of this growth was due to an increase in emerging market debt (the volume of debt has already reached $100 trillion).

Economic recovery and high inflation helped stabilize debt levels, bringing the global debt-to-total GDP ratio down to 351% last year (down 9 percentage points from 2020).

Last year, the total debt of advanced economies was $207.8 trillion, while the total debt of emerging economies such as India, China, South Africa, Brazil and Turkey was $95.7 trillion.