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Canadians have managed to become global leaders in indebtedness, according to the Organization for Economic Co-operation and Development.

A preview of the Paris-based OECD’s economic outlook was released Thursday, warning of the amounts of debt that families and businesses worldwide have been saddled with.

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tap here to see other videos from our team. Try refreshing your browser, or Canada's economic growth has come at a price — its debt level is now highest in the developed world Back to video

Canada stands out in the report, which noted that the country’s debt has “continued to rise from high levels.”Canada’s credit to households for the fourth quarter of 2016 was ahead of all other major economies, including China and the United States, standing at 101 per cent of gross domestic product.

This may not bode well for Canada and other countries carrying high levels of debt, the report suggested.

“Indebtedness of households and non-financial corporations in many advanced and emerging market economies is high. In many countries, it is continuing to rise,” the report said. “Highly indebted countries may be vulnerable to financial and real shocks, and such indebtedness may undermine the sustainability of growth in the medium term.”