The Corona-crisis and the associated government assistance measures, the debt of the world to a record climb. As the banking Association Institute of International Finance (IIF) announced that they amounted at the end of March to 258 trillion dollars. This corresponds to 331 percent of annual economic output, i.e. the "gross domestic product" (GDP) of the world economy. By the end of 2019, this percentage was 320 per cent, which was 11 percentage points lower.
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In the second quarter, the debt is expected to once again risen to be. According to the IIF, the bond issues between April and the end of June amounted to 12.5 trillion dollars – by far the highest for a single Quarter. The quarter average was 2019 at 5.5 trillion dollars. The governments have decided to support measures to mitigate the quarantine-induced recession in the amount of 11 trillion dollars. Another 5 trillion dollars were planned, writes the IIF.Updated Date: 17 July 2020, 11:20