World Added $24 Trillion COVID Related Debt for $281 Trillion Total
Worldwide debt increased to $281 trillion and worldwide debt-to-GDP ratio is now over 355%. The Institute of International Finance’s global debt monitor estimated government support programs were half of the rise, while global firms, banks and households added $5.4 trillion, 3.9 trillion and $2.6 trillion respectively. During the 2008-2009 financial crisis the debt-to-GDP jumped 10 …