Global Debt Rose Around $7 Trillion to Record in 2024, Says IIF
- Global debt reached $318 trillion in year, group says
- IIF says ‘beware of bond vigilantes’ amid high debt loads
This article is for subscribers only.
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.