Global Debt Hits Record High Of 331% Of GDP In First Quarter: IIF

• Global debt surged to a record $258Tn in the first quarter of 2020 as economies around the world shut down to contain the coronavirus pandemic, and debt levels are continuing to rise, according to the Institute for International Finance (IIF).
• The IIF, which represents global banks and financial institutions, said the first-quarter debt-to-GDP ratio jumped by over 10 percentage points, the largest quarterly surge on record, to reach a record 331%.
• Overall, gross debt issuance hit an “eye-watering” record of $12.5Tn in the second quarter, compared with a quarterly average of $5.5Tn in 2019, the IIF said. It noted that 60% of those issues came from governments.

(Source: Reuters)