Monitoring Desk
ISTANBUL: Global debt jumped $9.6 trillion to reach $252.6 trillion year-on-year in the third quarter of 2019 — an all-time high — the Institute of International Finance said on Monday.
Total debt totaled more than threefold (322%) the global GDP, the U.S.-based institute announced.
Institute data showed that mature market debt constituted 71.3% of the total global debt with $180.1 billion.
Emerging market debt also reached $72.5 billion or 220% of their GDP in the third quarter of last year.
“Spurred by low interest rates and loose financial conditions, we estimate that total global debt will exceed $257 trillion in Q1 2020,” the institute said.
Non-financial sector debt totaled $74.4 billion (up 4.-3%), while government debt totaled $69.2 billion (up 6-.1%), the financial sector racked up $61.5 billion (up 1.-3%), and household debt totaled $47.5 billion (up 3.7%). (AA)
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