Level of debt more than twice the size of global economy and unprecedented as a proportion of GDP
theguardian.com|Por Larry Elliott
IMF: Global Debt Surges to Record High $152 Trillion
NewsmaxWed, Oct 5
Worldwide public and private debt is at an all-time high, posing a substantial impediment to getting global economic growth back to normal, the International Monetary Fund said Wednesday. The easy money policies of the world's top central banks has fed the problem, stoking a private-sector credit binge in China and rising public debt in some low-income countries, the IMF said in a new report. Meanwhile, slow economic growth is making it hard for both companies and countries to cut their debt burdens -- a process that can also drag on growth momentum because deleveraging companies slow spending and investment. Without deleveraging, however, countries run the risk of fresh financial crises that can turn into deep recessions, the IMF's Fiscal Monitor report says. ...