The world’s debt has soared to an unprecedented $323 trillion, surging by $12 trillion in the first three quarters of 2024, according to a new report from the Institute of International Finance (IIF).
The sharp rise comes as falling borrowing costs and a resurgence of investor risk appetite drive increased lending, reported Reuters. However, this rapid escalation highlights vulnerabilities in global financial systems, especially as governments continue to operate under significant budget deficits.
