Global debt is just over 235%, of global gross domestic product, according to the International Monetary Fund (IMF) Global Debt Database, released this week.
In US dollar terms, debt increased to $251 trillion, with public debt rising to $99.2 trillion and private debt decreasing to $151.8 trillion.
This is the lowest level private debt has been, since 2015.
Private debt in the United States dropped by 4.5 %, while China’s increased by 6%, but it increased in emerging economies, including Brazil, India, and Mexico, except for Chile, Colombia, and Thailand.
The IMF said the cause is a high global fiscal deficit, of about 5 % of GDP, this is a reflection of the deficit from the Covid-19 period.
Insight from IMF analysts: Vitor Gaspar, Carlos Eduardo Goncalves and Marcos Poplawski-Ribeiro.
Picture: Human Rights Watch