Surge in global household debt fuels concern: IIF
Expected rise in interest rates seen imposing heavy burden; damaging growth at the macroeconomic level
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Tokyo
A NEW international debt crisis, many believe, could be triggered by high levels of government debt and emerging market corporate borrowing. But a new study says that mushrooming household debt in some advanced and emerging economies also represents a serious threat to the global economy.
Singapore is among the top half-dozen emerging economies where the recent surge in household debt has been most marked since 2007, according to the report issued on Tuesday by the Washington-based Institute of International Finance (IIF). The Republic is ranked fifth-highest among 44 advanced and emerging economies, says the IIF, an association representing many of the world's largest private and public financial institutions.
