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Ballooning global debt up by record US$57t since 2008 crisis

Rate of increase in global debt now outpaces world GDP growth, raising fresh risks: McKinsey report

Prisca Ang

Published Thu, Feb 5, 2015 · 09:50 PM

Singapore

GLOBAL debt has grown by a record high of US$57 trillion since the 2008 financial crisis, posing fresh risks to financial stability.

A recent report by McKinsey Global Institute (MGI) examines the evolution of debt and prospects for deleveraging in 22 advanced economies and 25 developing economies.

"High debt levels, whether in the public or private sector, have historically placed a drag on growth and raised the risk of financial crises that spark deep economic recessions," the report by the busin…

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