In unprecedented growth, global debt exceeds $324 trillion
Follow-up - INA
Global debt increased by approximately $7.5 trillion during the first quarter of this year, exceeding $324 trillion for the first time.
Western media reported that the Institute of International Finance confirmed that Germany, China, and France were the most significant contributors to the rise in global debt, while debt levels declined in Turkey, Canada, and the UAE.
The Institute stated in its periodic report that "the decline in the value of the dollar against the major currencies of the United States' trading partners partially contributed to the rise in the dollar value of debt, but the increase recorded in the first quarter is more than four times the quarterly average of $1.7 trillion since the end of 2022."
This comes at a time when the debt-to-GDP ratio has been declining relatively slowly globally, settling at more than 325%, while this ratio has reached a record high of 245% in emerging markets.
The International Institute indicated that total debt in emerging markets increased by more than $3.5 trillion during the first quarter of this year, reaching a record high of more than $106 trillion.
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