Global debt has surged to an all-time record high $188 trillion: IMF

R Sinduja

News Editor
Image Credit: Shortpedia

The IMF chief has warned that global debt has surged to a new all-time record which is more than double the world's economic output. He said global debt both public and private has reached an all-time high of $188 trillion, which amounts to about 230% of world output. This is up from the earlier record of $164 trillion in 2016. IMF chief Kristaline Georgieva calls for steps to ensure borrowing is more sustainable.