Reuters: Emerging market borrowing spree lifts global debt to record $217 trillion -IIF
Global debt levels have surged to a record $217 trillion, driven by a $3 trillion borrowing spree in the developing world, the Institute of International Finance said, warning of risks to emerging markets from short-term debt repayments.
The IIF, one of the most authoritative trackers of capital flows, said in a note late on Tuesday that global debt amounted to 327 percent of the world's annual economic output (GDP) by the first quarter of 2017 and the rise was driven principally by emerging market borrowing.
While advanced economies continued to deleverage, cutting total public and private debt by over $2 trillion in the past year, the report found total debt in developing countries had risen by $3 trillion to $56 trillion.
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Update #1: Global Debt Hits A New Record High Of $217 Trillion; 327% Of GDP (Zero Hedge)
Update #2: World’s debt over three times greater than economic output (RT)
WNU Editor: This will not end well.
