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Total global public and private debt fell last year to the equivalent of 247 per cent of global GDP, falling by 10 percentage points from its peak level in 2020, the latest...
The IMF said total public and private debt decreased by 10 percentage points to 247% of global gross domestic product (GDP) in 2021.
In a blog released with its inaugural Global Debt Monitor, the IMF said total public and private debt decreased by 10 percentage points to 247% of global gross domestic product (GDP) in 2021 from its peak of 257% in 2020. That compares to around 195% of GDP in 2007, before the global financial crisis.
By Vitor Gaspar, Apulo Medas, and Roberto Perrelli (*) – In 2020, we observed the largest one-year debt surge since World War II, with global debt rising to US$ 226 trillion as the world was hit by a global health crisis and a deep recession. Debt was already elevated going into the crisis, but now governments must navigate a world of record-high public and private debt levels, new virus mutations, and rising inflation.
The economic rebound in emerging markets (EM) still has steam and is projected to run into next year, S&P Global said in a new report, but warned that EM risks are getting worse as inflation keeps accelerating, potentially driving faster-than-expected normalization of monetary policy, tighter financing conditions, and market volatility.