Global debt hit a record of $3.7 trillion in H1 of 2023 – report

The world economy’s debt rose by $10 trillion in six months to June this year to reach $307 trillion, according to a report issued by the Institute of International Finance (IIF) on Tuesday.

“Over 80 percent of the debt buildup came from mature markets in H1 2023, with the U.S., Japan, the UK, and France registering the largest increases,” according to the IIF’s report.

The global debt-to-GDP ratio now sits at around 336 percent, which is up from 334 percent in the fourth quarter of 2022, a two-percentage point rise since the start of the year, the report added.