The world is facing another financial crisis and is standing on a stack of global debt for the first time in the last half a century.
According to the Global Debt Database of IMF, it rose 28% to 256% of GDP in 2020. The biggest single-year increase since 1970.
With the beginning of the COVID-19 pandemic and the emerging new mutations, the governments are facing debt threats.
It has already been increasing for some time until 2020 when the fourth wave of debt took place due to the pandemic and amounted to $226 trillion.
Surpass GDP In Many Countries
Furthermore in advanced countries, the total debt surpassed 300% of GDP in 2020. In emerging markets and developing countries, it was over 200% of GDP. The governments, households and corporates around the world owe debts. The h...
