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Graphic shows rise in global borrowing in advanced and emerging markets over past 21 years. $1 trillion = $1,000,000 million.
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BUSINESS

Global debt surges to more than $28,000 per person

By Duncan Mil

June 29, 2017 - Global debt has grown by US$75 trillion to $217 trillion in the decade since the 2007-08 financial crisis, reaching $28,900 for every man, woman and child in the world according to a new report.

Global debt levels stood at 327 percent of the world's annual economic output (GDP) in the first quarter of 2017, according to the Institute of International Finance (IIF).

A decade-long, $40 trillion borrowing spree in the developing world added to the debt since 2007, a significant acceleration from the $8.6 trillion added between 1996 and 2007.

Of $56 trillion of emerging market debt, China accounted for almost $33 trillion, led by household and company borrowing. Brazil accounted for $3.6 trillion and India for 2.9 trillion, the IFF said in its report.

Sources
PUBLISHED: 29/06/2017; STORY: Graphic News
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