The volume of global debt has reached unprecedented levels, despite the decline in the debt-to-GDP ratio for the first time since the beginning of the Corona pandemic.
According to Arab Net, the report issued by the Institute of International Finance showed that total debt, which represents all the debts of governments, individuals, companies and banks, has increased by $4.8 trillion. To reach $296 trillion by the end of the second quarter of 2021, an increase of $36 trillion compared to pre-pandemic levels.
The debt-to-GDP ratio fell to 353% at the end of June, with the global economic recovery accelerating, after hitting a record high of 362% in the first quarter.< /p>
The institute's report, seen by Al Arabiya.net, said that the rise in debt was significant in emerging markets, reaching $91.54 trillion by the end of the second quarter, compared to $57 trillion. At the end of 2020.
The report indicated that the percentage of individuals' debts also increased during the first half of 2021 due to the rise in real estate prices, bringing their total debts to 55.3 trillion dollars, compared to 49.4 trillion dollars in the previous year. The second quarter of 2020.
He added that the United States had about 490 billion dollars in debt during the second quarter, which is the lowest level of the spread of the Corona pandemic, while Japan was one of the largest countries that witnessed a decline in its debts. To rise by more than a trillion dollars to reach a trillion dollars.
