Global debt hits a record 355% of world GDP

According to Russia Today, the report of the Institute of International Finance, a US think tank, showed that in 2020, the COVID-19 pandemic caused global debt to increase by $24 trillion, and the total global debt reached A record $281 trillion, reaching 355% of world GDP, an increase of 35 percentage points from 2019.

This growth rate also exceeded that in 2008, when the subprime mortgage crisis occurred. In 2008 and 2009, the global debt as a proportion of world GDP increased by only 10% and 15%.