Both developed and developing nations collaborated to achieve a new record of debt, but developed nations are the biggest offenders with 142 billion euros while developing nations added almost 51 billion euros.
The debt of households, companies, banks, and governments worldwide added up to a total of 193 billion euros at the end of 2017.
The figure represents a new record after increasing by 13.7 billion euros in the first nine months of last year, according to data compiled by the International Finance Institute (IIF).
The increase in global debt in absolute figures, in relation to world GDP reached 318% of global GDP, three percentage points below the historical maximum of 321% registered a year before.
H/t reader eric:
“Not long now I guess.”
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