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This is a legitimate concern that reducing the debt burden will be very difficult in the future without “significant adverse effects on economic activity,” it warns in the IIF study findings.
The total amount of debt in the world has already increased by 15 trillion this year. USD and at the end of the year it can exceed 277 trillion. The debt-to-world gross domestic product ratio will rise 320 percent this year. up to 365 percent.
The G20 states have announced an initiative that will currently allow the world’s 46 poorest countries to defer debt payments by around $ 5 billion. dollar amount. They are also moving towards access to additional financing from the International Monetary Fund (IMF).
Analysts, meanwhile, speak of the need for additional measures to combat the growing risk of a budget crisis in many developing countries.
Since the start of the pandemic, the world’s major central banks have lowered interest rates and taken stimulus measures, leading to lower borrowing costs. On the other hand, the decrease in tax revenues makes it difficult to service the debt.
Global debt increased by 52 trillion from the beginning of 2016 to the end of September this year. dollars, while in 2012-2015 – only 5 trillion. dollars, IIF note.
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