The coronavirus has taken global debt to a new record high

The coronavirus has taken global debt to a new record high

Wespington, D.C. In the U.S. On July 12, 2012, a pressman carried a stack of શી 20 bill of lading at Bureau Eng Arranging.

Paul J. Richards | AFP | Getty Images

London – The Corona virus The crisis in the third quarter pushed global debt levels to a new high of more than 272 trillion, the Institute for International Finance said, warning of a “debt tsunami attack”.

The agency said global debt would break new records next month and reach 7 277 trillion by the end of the year. This will represent a debt-to-GDP ratio of 36 to 5%.

The global epidemic comes after governments around the world backed companies and citizens, leading to widespread door-to-door orders. Businesses also had to find alternative funding as activities came to a standstill following Kovid-19. Both events translated into higher debt and therefore higher debt.

The global debt burden has grown by િયન 15 trillion in the first three quarters of 2020 and is now over 27 272 trillion, driven by sharp growth in government and corporate growth as the Kovid-1p epidemic continues, the IIFA said in its latest global outbreak. IIF said in its latest Global. Debt Monitor, out Wednesday.

In developed countries, the third quarter grew by more than 432% of GDP – which will grow by 50% from 2019. The United States, which has implemented one of the largest stimulus packages in the world, accounted for nearly half of the increase.

The pace of global debt accumulation since 2016 is unprecedented.

In the eurozone, government debt increased by 1.5 1.5 trillion over the same period, reaching 53 53 trillion. In the second quarter of 2011 still, when the sector was facing a sovereign debt crisis, it was below the all-time high of ક્ષેત્ર 3 trillion.

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Debt levels in emerging markets have risen to more than 248% of GDP, while Lebanon, China, Malaysia and Turkey are experiencing the largest increases in non-financial sector debt.

However, the coronavirus epidemic is not the only factor blaming large levels of global debt.

“The pace of global debt accumulation has been unprecedented since 2016, with an increase of more than 52 52 trillion,” the IIFA said.

“While this additional 15 15 trillion was recorded in 2020 amid the Covid-19 epidemic, debt surplus in the last four years has surpassed the tr 6 trillion increase in the last four years.”

Large debt levels put governments, companies and households at high risk during an economic downturn because they need to pay off that debt.

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