WEB Notes: Global debt is at a new record high, take that in. This is a global problem that will require a global solution. Debt continues to pile up for governments and people. Millions of Americans still have their mortgages in forbearance. What happens after July without further bailouts…
Global debt surged to a record $258 trillion in the first quarter of 2020 as economies around the world shut down to contain the coronavirus pandemic, and debt levels are continuing to rise, the Institute for International Finance said on Thursday in a report.
The IIF, which represents global banks and financial institutions, said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the largest quarterly surge on record, to reach a record 331%.
Source: Reuters