Warning after worldwide debt reaches 322% of GDP
(Worthy News) – Worldwide debt reached 322% of GDP last year, according to new figures which will worry governments planning post-coronavirus economic recoveries.
Worldwide debt across all sectors rose by $10trn (£8trn) in 2019 to more than $255trn (£206trn), and that was before COVID-19, which forced many of the world’s governments to bail out businesses and to pay workers in an effort to help them survive the pandemic.
By the end of last year, global debt stood at 322% of GDP – 40 percentage points higher than at the beginning of the 2008 financial crisis, according to the Institute of International Finance’s Global Debt Monitor. [ Source: Sky News (Read More…) ]
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