$296 trillion.. The global debt has risen to a record level...


Data from the Institute of International Finance showed that the volume of global debt rose by 4.8 trillion dollars on a quarterly basis during the second quarter of 2021 to reach 296 trillion dollars, and recorded its highest level ever.

The Institute of Finance reported that total global debt rose by $25.1 trillion year-on-year during the second quarter, compared to the corresponding period of 2020.

The rise was sharper in emerging markets, where total debt rose to $91.5 trillion in the second quarter of 2021, compared to $77.8 trillion in the corresponding period of the previous year.

While the debts of developed countries rose in the second quarter to 205 trillion dollars, equivalent to 418% of GDP.
The debt of developed countries had recorded 193.1 trillion dollars at the end of the second quarter of 2020.

The report stated that the ratio of global debt to global GDP decreased for the first time since the outbreak of the epidemic to 353% in the second quarter of 2021, compared to 362% in the first quarter of the year. Himself.

However, debt ratios remain well above pre-pandemic levels in many advanced and emerging market economies, according to the report.

The report stated that households contributed the most to the increase in global debt levels in the first half of 2021, which led to a partial increase in home prices.

Current global debt levels are $36 trillion more than pre-pandemic levels.

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