India Business Journal - Global debt to hit $200 trillion

WORLD

Global debt to hit $200 trillion

IBJ Bureau
Dec 31, 2020

Global debt is set to reach $200 trillion, or 265 per cent of the world’s annual economic output, by the end of the year, S&P Global has forecast. However, the rating agency does not expect a crisis any time soon. S&P has added that the debt amounts to a 14-point rise as a percentage of the world’s GDP, having been amplified by both the economic plunge caused by COVID-19 and the extra borrowing that governments, companies and households have had to resort to. “Global debt-to-GDP has been trending up for many years; the pandemic simply exacerbated the rise,” S&P’s report has added.