Global debt soars to 356% of GDP
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(Worthy News) – The world’s debt-to-GDP ratio rose to 356% in 2020, a new report from the Institute of International Finance finds, up 35 percentage points from where it stood in 2019, as countries saw their economies shrink and issued an ocean of debt to stay afloat.
The increase brings numerous countries, including the U.S., to extreme debt levels, well beyond what economists have called untenable in the past.
Nonfinancial private sector debt alone now makes up 165% of the entire world’s economic output. [ Source: Axios (Read More…) ]
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