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Image Credit: Shortpedia

Global debt hit record-time high of $253 trillion, expected to grow more this year

Shortpedia

Content Team

The world's debt has hit a record-time high of over 322% in the third quarter of 2019, in comparison to its total output. According to a research report by the Institute of International Finance (IIF), the debt is expected to grow further in the upcoming year. Institute data showed that mature market debt constituted 71.3% of the total global debt with $180.1 billion. Emerging market debt also reached $72.5 billion.