Global debt hits record $313T in 2023, says IIF

Over $15T added to global debt last year, bringing the total to a record high of $313 trillion, the Institute of International Finance (IIF) report highlights

The debt worldwide climbed to a record high of $313 trillion last year, underscored by a report by the Institute of International Finance (IIF).

“Over $15 trillion was added to the global debt mountain last year, bringing the total to a record high of $313 trillion,” said the report Wednesday. “The global debt-to-GDP ratio declined for a third consecutive year, largely driven by mature markets.”

While global debt declined by approximately $7 trillion in 2022, it increased by more than $15 trillion in 2023, according to the figures.

Total debt stood around $210 trillion almost a decade ago, according to IIF.


Around 55% of total debt came from developed markets, such as the U.S., France and Germany, while China, India and Brazil also showed a rise in debt among developing countries.

The total debt of developed countries climbed to $208.3 trillion last year, and the combined debt of developing countries rose to $104.6 trillion.


Household debt amounted to $59.3 trillion, while public sector debts were $89.9 trillion last year.

Debts of non-financial companies came in at $94.4 trillion and debts of financial institutions were $69.4 trillion, according to the IIF.

Source: AA

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