On Monday, the 13th of January 2020, the Institute of International Finance projected that the global debt would likely to break through to a new all-time high of over $257 trillion in a near-term outlook, while fanning the flames further over an already hard-pressed global economy, IIF added there had been no signs of retreat thus far.
On top of that, according to IIF’s Monday’s (January 13th) forecast, global debt was expected to amount to a figure of $32,500 for each human species in a 7.7 billion people world, while the staggering debt-pile would likely to surpass 3.2 times of the planet’s entire economic output.
Besides, IIF had also added in its Monday’s (January 13th) statement that the first three quarters of 2019 alone had contributed to a 3.5 per cent surge of entire global debts across governments, financials alongside non-financial corporate sectors alongside household to some whopping $9 trillion, while in mature markets, the total amount of debts now sums up to $180 trillion or 383 per cent of world’s combined GDP (Gross Domestic Product).
Meanwhile, adding that the figures had been much shivering in the emerging markets where debts were nearly doubled over the past decade driven by whimsical and corrupted boosts in corporate debts, IIF said in its Monday’s (January 13th), “Spurred by low interest rates and loose financial conditions, we estimate that total global debt will exceed $257 trillion in Q1 2020. ”