$28,900 ... Find out why we think this is a figure you should be aware of!

A new report has shown how global debt has grown by US$75 trillion to $217 trillion in the decade since the 2007-08 financial crisis - reaching $28,900 for every man, woman and child in the world.

Global debt levels stood at 327% of the world’s annual economic output (GDP) in the first quarter of 2017, according to the Institute of International Finance (IIF).

A decade-long, $40 trillion borrowing spree in the developing world added to the debt since 2007, a significant acceleration from the $8.6 trillion added between 1996 and 2007.

Of $56 trillion of emerging market debt, China accounted for almost $33 trillion, led by household and company borrowing. Brazil accounted for $3.6 trillion and India for 2.9 trillion, the IFF said in its report.

Get your head round that we say ... 

KEYWORDS: Global debt

 

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