New Data on World Debt: A Dive into Country Numbers by Marialuz Moreno Badia and Paolo Dudine published by IMF (12/2020).
The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board.
The new update of the IMF’s Global Debt Database shows that total global debt (public plus private) reached US$188 trillion at the end of 2018, up by US$3 trillion when compared to 2017. The global average debt-to-GDP ratio (weighted by each country’s GDP) edged up to 226 percent in 2018, 1½ percentage points above the previous year. Although this was the smallest annual increase in the global debt ratio since 2004, a closer look at the country-by-country data reveals rising vulnerabilities, suggesting that many countries may be ill-prepared for the next downturn.
In advanced economies the average debt ratio declined, but there is no clear sign of a significant push to reduce debt. In emerging market economies and low-income developing countries, the average debt ratios rose further. Notably, China’s total debt ratio reached 258 percent of GDP at end-2018—the same as the United States and nearing the average for advanced economies, which was 265 percent…”
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