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Global debt balloons by $15 trn this yr, may hit all time high of $227 trn

The estimate is based on a report from the Institute of International Finance whose members include over 400 banks and financial institutions across the globe

Debt, loans
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Total US debt is on track to hit $80 trillion in 2020, the IIF report said

Reuters
Global debt is expected to soar to a record $277 trillion by the end of the year as governments and companies continue to spend in response to the Covid-19 pandemic, the Institute of International Finance said in a report on Wednesday.

The IIF, whose members include over 400 banks and financial institutions across the globe, said debt ballooned already by $15 trillion this year to $272 trillion through September. Governments - mostly from developed markets - accounted for nearly half of the increase.

Developed markets’ overall debt jumped to 432% of GDP in the third quarter, from a ratio of

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First Published: Nov 18 2020 | 8:46 PM IST

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