Global debt hits a new record at $247 trn, $29 trn higher than end of 2016

Global debt rose to a record $247 trillion in the first quarter, more than $29 trillion higher than the end of 2016, according to an analysis by the Institute of International Finance. The debt-to-GDP ratio rose for the first time since the third quarter of 2016 but remains about four percentage points below the record high reached then, according to the IIF. The pace of the debt increase in the first quarter is a concern to the IIF as they note that the quality of the debt has declined, particularly in emerging markets.