Report: The World Is Swimming in a Record $233 Trillion of Debt
Dan Kitwood/Getty Images byBreitbart News6 Jan 20180 6 Jan, 20186 Jan, 2018 Joe Ciolli writes at ..
Dan Kitwood/Getty Images
byBreitbart News6 Jan 20180
Joe Ciolli writes at Business Insider that a new report claims worldwide debt climbed to a new record in 2017:
Global debt soared to a record $233 trillion in the third quarter of 2017, according to a report from the Institute of International Finance.
That marked a $16.5 trillion — or 8% — increase from the end of 2016. It also reflected record highs for private nonfinancial sector debt in Canada, France, Hong Kong, Korea, Switzerland, and Turkey.
One possible side effect of this massive debt burden could be a reluctance from central banks to tighten lending conditions, the IIF says. It points out in the report that because a prolonged low-interest-rate environment contributed to the swelling of debt levels, sovereign banks may be reluctant to rock the boat by hiking.
Read the rest of the story at Business Insider.
