* IMF chief Kristalina Georgieva warned global debt has surged to a all-time high
* Debt is at $188 trillion – which is around 230 per cent of world’s economic output
* Kristalina Georgieva said high debt burdens left many governments vulnerable
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.
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Update: Global debt surges to record high $188 tn: IMF Chief Kristalina Georgieva (Money Control)
WNU Editor: This is up from the previous record of $164 trillion in 2016.