Could soaring global debt trigger the next financial crisis?
Summary
Global debt has reached nearly $100 trillion, which is almost double what it was ten years ago. The International Monetary Fund (IMF) warns that by 2029, this debt might be more than the total value of the world economy. Wealthier countries can still borrow money at lower costs, but poorer countries are finding it difficult to borrow more.Key Facts
- Global public debt is nearly $100 trillion.
- This amount of debt has almost doubled in the last decade.
- The IMF predicts that by 2029, global debt will exceed the total value of the world economy.
- Wealthier nations currently manage to borrow money more cheaply.
- Poorer countries face challenges in taking on additional debt.
- There is concern about who will bear the cost if borrowing becomes unsustainable.
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