According to IMF chief Kristalina Georgieva global debt has hit an all-time high.
Global debt has hit an all-time high of $188 trillion, which is more than double the output of the global economy, the IMF warned today.
The global debt load has surged to a new record of around 230 per cent of world’s output, IMF chief Kristalina Georgieva said.
While private sector borrowing accounts for the vast majority of the total, the rise puts governments and individuals at risk if the economy slows, she said.
‘Global debt – both public and private – has reached an all-time high of $188 trillion. This amounts to about 230 per cent of world output,’ Georgieva said in a speech to open a two-day conference on debt.
That is up from the previous record of $164 trillion in 2016, according to IMF figures.
This comes at a time where the global world is attempting to push a global climate agenda. Rather than attempting to curtail government spending and live in the real world Governments worldwide are taking more and more control of their citizens.
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