Global Debt Continues To Skyrocket

Global debt continues to skyrocket according to a report released today from the Institute for International Finance. The IIF’s report found that global debt had risen more than $11 trillion in the first nine months of 2016 to more than $217 trillion. The report indicated that Global debt levels rose to more than 325 percent of the world’s gross domestic product last year as government debt rose sharply.

As far as the makeup of new debt, emerging market debt rose substantially, as government bond and syndicated loan issuance in 2016 grew to almost three times its 2015 level. And, as has traditionally been the case, China accounted for the lion’s share of the new debt, providing $710 million of the total $855 billion in new issuance during the year, the IIF reported.

Along with other significant warnings, the IIF also warned that higher borrowing costs in the wake of the U.S. presidential election and other stresses, including “an environment of subdued growth and still-weak corporate profitability, a stronger (U.S. dollar), rising sovereign bond yields, higher hedging costs, and deterioration in corporate creditworthiness” presented challenges for borrowers.

The IIF also warned that , “a shift toward more protectionist policies could also weigh on global financial flows, adding to these vulnerabilities.”

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U.S. National Debt

Screenshot taken at 7:45 PM EST. Live Clock.