Global debt reached a record 337.7 trillion dollars at the end of the second quarter, the International Institute of Finance (IIF) reported.
The report states that the debt increased due to the easing of global financial conditions, the weakening of the dollar, and the accommodative stance of major central banks.
The institute stated that global debt increased by more than 21 trilliondollars in the first half of the year.
The largest debt growth in dollars was recorded in China, France, the United States (U.S.), Germany, the United Kingdom (UK), and Japan, the IIF specified.
“The scale of this increase is comparable to the rise recorded in the second half of 2020, when policy responses related to the pandemic led to an unprecedented accumulation of global debt,” the report states.
Looking at the debt-to-GDP ratio, the largest increases were recorded in Canada, China, Saudi Arabia, and Poland, while this ratio decreased in Ireland, Japan, and Norway, according to the document.
