Half of the US$24 trillion debt increase globally last year was accrued by governments, which turned to various forms of fiscal and monetary support to help businesses and households amid the coronavirus outbreak. Photo: Xinhua Half of the US$24 trillion debt increase globally last year was accrued by governments, which turned to various forms of fiscal and monetary support to help businesses and households amid the coronavirus outbreak. Photo: Xinhua
Half of the US$24 trillion debt increase globally last year was accrued by governments, which turned to various forms of fiscal and monetary support to help businesses and households amid the coronavirus outbreak. Photo: Xinhua

China, India able to absorb share of record coronavirus-induced global debt levels with ‘growth credibility’

  • Global debt surged to US$281 trillion last year, leading the overall debt to gross domestic product (GDP) ratio to rise by 35 percentage points to 355 per cent
  • Institute of International Finance (IIF) says half of the debt increase globally last year was accrued by governments in an effort to offset the impact of the coronavirus

Topic |   Coronavirus pandemic
Half of the US$24 trillion debt increase globally last year was accrued by governments, which turned to various forms of fiscal and monetary support to help businesses and households amid the coronavirus outbreak. Photo: Xinhua Half of the US$24 trillion debt increase globally last year was accrued by governments, which turned to various forms of fiscal and monetary support to help businesses and households amid the coronavirus outbreak. Photo: Xinhua
Half of the US$24 trillion debt increase globally last year was accrued by governments, which turned to various forms of fiscal and monetary support to help businesses and households amid the coronavirus outbreak. Photo: Xinhua
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