Global debt jumps to $324 trillion, a record high

 

Global debt continues to rise

Global debt jumps to $324 trillion, a record high

A report by the Institute of International Finance showed that global debt increased by about $7.5 trillion in the first three months of the year, reaching an unprecedented high of more than $324 trillion.

The institute said that China, France, and Germany were the largest contributors to the increase in global debt, while debt levels declined in Canada, the UAE, and Turkey.

The institute stated in its Global Debt Monitor report, "The sharp depreciation of the US dollar against the currencies of major trading partners contributed to the increase in the dollar value of debt, but the rise in the first quarter was more than four times the average quarterly increase of $1.7 trillion observed since the end of 2022."

The global debt-to-GDP ratio remained slow to move downward, reaching just over 325 percent. However, the ratio for emerging markets reached an unprecedented high of 245 percent.