Emerging market debt ratio climbs back to record highs — IIF

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Wed, 2022-11-23 10:37

NEW YORK: Emerging markets’ debt-to-gross domestic product ratio returned to record highs despite a $6.4 trillion decline in the global debt pile to $290 trillion in the third quarter due to a strong dollar and slowing bond sales, an Institute of International Finance report found, according to Reuters.

Budget deficits and slower economic growth lifted the debt-to-GDP ratio in developing economies to 254 percent, matching a record high hit in the first quarter of 2021, the IIF said in its latest Global Debt Monitor published on Tuesday.

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