Global Debt Soars to Near-Record $305 Trillion in First Quarter: Trade Group

Global debt levels soared by $8.3 trillion in the first quarter, climbing to $305 trillion, nearly a record high, according to new Institute of International Finance (IIF) data.
The record, $306.5 trillion, was set in the first quarter of 2022.
The Washington-based global association of the financial industry reported in its latest Global Debt Monitor report that the world, from households to governments, continues to take on more debt.
IIF figures show that worldwide government debt surged by $2.2 trillion, household debt by $1.1 trillion, financial corporate debt by $2.1 trillion, and nonfinancial corporate debt by $3.1 trillion. These numbers are up considerably, by more than 17 percent, from before the COVID-19 pandemic, as the total global debt was $260.3 trillion in the fourth quarter of 2019….}