World’s debt load balloons to a record $164-trillion, warns IMF
The International Monetary Fund says the global debt burden is clouding an otherwise upbeat outlook for the world economy
Washington — The world’s debt load has ballooned to a record $164-trillion, a trend that could make it harder for countries to respond to the next recession and pay off debts if financing conditions tighten, the International Monetary Fund (IMF) has said. Global public and private debt swelled to 225% of global GDP in 2016, the last year for which the IMF provided figures, the fund said in its semi-annual Fiscal Monitor report on Wednesday. The previous peak was in 2009, according to the Washington-based fund. "$164-trillion is a huge number," Vitor Gaspar, head of the IMF’s fiscal affairs department, said in an interview. "When we talk about the risks looming on the horizon, one of the risks has to do with the high level of public and private debt." The global debt burden clouded the IMF’s otherwise upbeat outlook of the world economy, which is in its strongest upswing since 2011. On Tuesday, the IMF forecast expansion of 3.9% in 2018 and 2019, while saying in subsequent years the ...
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