Home / World News / Global debt surged to record $258 trillion in first quarter of 2020

Global debt surged to record $258 trillion in first quarter of 2020

The IIF said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the biggest quarterly surge, to reach a record 331%

Premium

Overall gross debt issuance hit an “eye-watering” record of $12.5 trillion in the second quarter, compared with a quarterly average of $5.5 trillion in 2019

Reuters

2 min read Last Updated : Jul 18 2020 | 1:18 AM IST

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, the Institute for International Finance (IIF) said in a report. Debt levels are continuing to rise, it further said.

The IIF, which represents global banks and financial institutions, said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the biggest quarterly surge, to reach a record 331 per cent. While the rise in debt levels was well below average quarterly gains seen from 2015 to 2019, the pace of global debt build-up by governments,

Topics : Coronavirus Debt

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in