The Institute of International Finance revealed that global debt hit a record $307 trillion in the second quarter of this year, although higher interest rates curb bank credit, while markets such as the United States and Japan led the rise.
According to the Institute's report, global debt in dollar terms rose by $ 10 trillion in the first half of 2023 and $ 100 trillion over the past decade.
The latest increase raised the global debt-to-GDP ratio for the second consecutive quarter to 336 percent, the institute said. Prior to 2023, this percentage recorded a seven-quarter decline.
Source (Al-Arabiya.net Website, Edited)
