Global debt jumps to new high of $226 trillion, says IMF report

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Because of Covid-19 and policies put in place to respond to it, the global debt has jumped to a new high of $226 trillion, the International Monetary Fund (IMF) said on Wednesday. Advanced economies and China contributed more than 90 per cent to the accumulation of worldwide debt in 2020. The remaining emerging economies and low-income developing countries contributed only around seven per cent.
 
“Because of Covid 19, and of policies put in place to respond to it, debt levels increased fast and reached high levels. High and rising levels of public and private debt are associated with risks