Worthy Christian News > World News > $24 Trillion Leap In Global Debt Driven By COVID-19, Experts Say

$24 Trillion Leap In Global Debt Driven By COVID-19, Experts Say

Wednesday, February 17, 2021 | Tag Cloud Tags: coronavirus, covid-19, debt, EU, News, virus, Worthy News | Learn about our FREE SYNDICATION Service | Get the Worthy Brief by email! | Printer Friendly

(Worthy News) – The coronavirus pandemic has sent the global debt soaring to a new level, having added $24 trillion of debt in the past year, according to a study from The Institute of International Finance.

The global debt monitor from The Institute of International Finance (IIF) shows that as a result of the increased debt, the world debt is now $281 trillion. The worldwide debt-to-Gross Domestic Product (GDP) ratio currently at over 355%, Reuters reported.

Government service programs were estimated to be responsible for half of the rise in global debt, according to the study. [ Source: Daily Caller (Read More…) ]

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