OECD: Global debt surges to $25t in 2024

Governments and corporations borrowed a record $25 trillion from markets in 2024, $10 trillion more than pre-COVID levels and triple the amount raised in 2007, the OECD said in its latest Global Debt Report.

Sovereign bond issuance in OECD countries is expected to hit $17 trillion in 2025, with total government debt reaching nearly $59 trillion.

Corporate debt also climbed, hitting $35 trillion at the end of 2024. Meanwhile, borrowing costs rose, with interest payments in OECD countries reaching 3.3 per cent of GDP, exceeding total defence spending.

Nearly 45 per cent of sovereign debt and one-third of corporate bond debt are set to mature by 2027, raising refinancing risks.

The OECD Global Debt Report 2025 also warned that financing climate transition goals will require significant public and private sector investment, with emerging markets facing the greatest challenges.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser