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

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
READ FULL ARTICLE