World's biggest economies need to refinance US$7.1 trillion debt in 2016

London

THE amount of debt that the governments of the world's leading economies will need to refinance in 2016 will be little changed from last year as nations make strides in cutting budget deficits to a third of the highs seen during the financial crisis.

The value of bills, notes and bonds coming due for the Group of Seven nations plus Brazil, China, India and Russia will total US$7.1 trillion, compared with US$7 trillion in 2015 and down from US$7.6 trillion in 2012. Japan, Germany, Italy and Canada will all see redemptions fall, while the US, China and the UK face increases, data compiled by Bloomberg show.