Worldwide debt rose in the first quarter to nearly $305 trillion, a study by the Institute of International Finance showed, warning that the increasing cost of servicing this debt raises concerns about the leverage of the financial system.
According to the institute, global debt rose by $ 8.3 trillion in the first three months of this year, compared to the end of 2022 $ 304.9 trillion, the highest since the first and second quarters of last year, and the highest quarterly reading ever.
In its quarterly Global Debt Watch report, the institute said global debt is now $45 trillion higher than its pre-pandemic level and is expected to continue to increase rapidly.
Source (Alkhaleej Emirati Newspaper, Edited)
