Global Debt Has Reached A Shocking $184,000,000,000,000

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The global debt currently exceeds $86,000 per person on average, as reported by the International Monetary Fund (IMF). The United States, China, and Japan are the top three world borrowers, accounting for more than half of the worldwide debt.

Global Debt Has Reached A Shocking $184,000,000,000,000

© Getty Images / Colin Anderson


The global debt currently exceeds $86,000 per person on average, as reported by the International Monetary Fund (IMF). The United States, China, and Japan are the top three world borrowers, accounting for more than half of the worldwide debt.


According to the IMF, their share of debt exceeds that of output. It reported that the emergence of China among the top ranking is, though, a relatively new development. Since the beginning of the 21st century, China’s share in the world's debt surged from less than 3% to over 15%, underscoring the rapid credit surge in the aftermath of the world financial crisis.


The IMF has calculated that global debt has reached a record high of $184 trillion in nominal terms. That is the equivalent of 225% of the world GDP in 2017. It went up $2 trillion than that reported in October 2018, because it includes the debts of several countries who hadn't previously reported their updated data.




“By including both the sovereign and private sides of borrowing for the entire world, the GDD (Global Debt Database) offers an unprecedented picture of global debt in the post-World War II era,” the IMF stated. GDD is a comprehensive dataset covering public as well as private debt for 190 countries dating back to the '50s.

COMMENTS

BLOGGER: 3
  1. What exactly happens when nobody can pay any of that back? It's not possible to repay that debt, so does the entire world declare bankruptcy?

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Thinking Humanity: Global Debt Has Reached A Shocking $184,000,000,000,000
Global Debt Has Reached A Shocking $184,000,000,000,000
The global debt currently exceeds $86,000 per person on average, as reported by the International Monetary Fund (IMF). The United States, China, and Japan are the top three world borrowers, accounting for more than half of the worldwide debt.
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