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Global Debt Rose Around $7 tn to Record $318 tn in 2024: IIF
Hindustan Times West UP
|February 27, 2025
Global debt increased by around $7 trillion in 2024 to reach $318 trillion, a record annual high and a reason for financial markets to be cautious, according to the Institute of International Finance.
Total debt as a share of gross domestic product also rose for the first time in four years as economic growth slowed, the group, which represents the global financial industry, said in a report. It predicted borrowing will remain high this year, especially in the US, France, China, India and Brazil.
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