Article content

The OECD warned that rising private debt loads in both advanced and developing economies pose a risk to growth as Canada, South Korea and the U.K. lead the world in household borrowing.

“Household and corporate debt in many advanced and emerging market economies is high,” the Organization for Economic Cooperation and Development said Thursday in a pre-released section of a report to be presented next week.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Canadians are the most indebted in the world, OECD says, as it warns on rising debt risk Back to video

“While higher indebtedness does not necessarily imply that problems are just around the corner, it does increase vulnerability to shocks.”

Indebtedness has continued to rise from high levels in the Scandinavian countries, Australia and Canada, the OECD said.

With the global economy showing its most even expansion since the financial crisis, debt levels and credit quality are among the risks that could trigger a downturn. Consumer debt tops 100 per cent of gross domestic product in Canada, with South Korea and Britain both above 80 per cent.