UNITED STATES (OBSERVATORY NEWS)
According to data from the International Finance Institute (the largest gathering of financial institutions in the world), the ratio of global debt to GDP increased to 322 percent, recording $ 253 trillion in the third quarter of 2019.
In a report issued on Monday, the institute expected that global debt will grow faster in 2020; it is estimated to exceed 257 trillion dollars by the end of the first quarter of this year.
He attributed the rise mainly to non-financial sector debt, low interest rates and concessional terms for borrowing.
“As debt rises, it will be difficult to obtain financing for the SDGs on a larger scale, especially for some emerging economies,” the report continued.
The Institute of International Finance is a global institution that includes more than 470 financial institutions, and its mission is to support the financial industry and risk management, and in its membership includes global central banks, major international banks, insurance companies, pension funds, asset managers and sovereign wealth funds.
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
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