Global debt reached an all-time high, exceeding $305 trillion in the first quarter of the year, driven by the rise in debts from China and the United States.
The Institute of International Finance (IIF) has published the “Global Debt Monitor” report. According to the report, the amount of global debt increased by $3.3 trillion in the first quarter of the year to $305.3 trillion. The amount of global debt, which reached a record level in this period, was calculated as 293.4 trillion dollars in the same period of last year.
The increase in global debts in the first quarter of the year and the increase in the debts of China and the USA were effective. In the said period, the total debt amount in the Euro Zone decreased for three consecutive quarters.
While the total debt of developed economies was 206.7 trillion dollars in the first quarter of the year, the total debts of emerging economies such as India, China, South Africa, Brazil, and Turkey amounted to 98.6 trillion dollars.
