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Pandemic may send global debt to US$277t by year's end, says IIF

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Published Thu, Nov 19, 2020 · 09:50 PM

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    THE ongoing Covid-19 pandemic has caused global debt to soar by US$15 trillion to reach US$272 trillion as at the end of September this year. Governments, mostly from developed markets, accounted for nearly half the increase.

    The total could reach US$277 trillion by the end of 2020, said the Institute of International Finance (IIF), which has more than 400 bank and other financial institution members.

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