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Global debt reaches an all-time high of $184 trillion, says IMF

On average, the world's debt now exceeds $ 86,000 per person more than 2 times the average income per-capita

Press Trust of India  |  Washington 

Statsguru: Total private debt soars in China, remains stable in India

The has reached an all-time high of $ 184 trillion, with three countries the United States, and accounting for more than half of it, the Monetary Fund said Thursday.

Earlier this year, the had calculated the to be around $ 182 trillion.

In its latest update, the said the has reached an all-time high of $ 184 trillion.

The updated amount, in nominal terms, is the equivalent of 225 per cent of the world GDP in 2017.

On average, the world's debt now exceeds $ 86,000 per person more than 2 times the average income per-capita. The top three borrowers in the world (United States, China, and Japan) account for more than half of the global debt, exceeding their share of global output, the said, adding that it is nonetheless striking that the most indebted economies in the world are also the richer ones.

The emergence of among the top ranking is, however, a relatively new development, it said.

Since the beginning of the millennium, China's share in global debt has gone up from less than three per cent to over 15 per cent, underscoring the rapid credit surge in the aftermath of the global financial crisis.

First Published: Fri, December 14 2018. 00:20 IST
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