Global debt climbs above $307T in 3rd quarter of 2023

Figure is 6.2% increase from $289T in same period last year

By Ovunc Kutlu

ISTANBUL (AA) - The amount of global debt climbed above $307 trillion in the third quarter of this year, according to a report by the Institute of International Finance (IIF).

"Global debt reached a staggering $307 trillion in Q3 2023, with a big increase across the board in both mature markets, the US, Japan, France, and the UK, and emerging markets, China, India, Brazil, and Mexico," said the report released late Thursday.

The figure is up 6.2% from $289 trillion in the same period of 2022.

While the debts of developed countries climbed to $206 trillion, the total debt of developing countries rose to $101.3 trillion this July-September, said the report.

Personal debts amounted to $57.9 trillion, while public sector debts were at $88.1 trillion, it said.

Debts of non-financial companies came in at $91.1 trillion and debts of financial institutions were $70.3 trillion, according to the IIF.

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