World Debt Hits Record $184 Trillion – IMF

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Today, the International Monetary Fund (IMF) updated its publicly available Global Debt Database (GDD) – a comprehensive dataset covering public and private debt for virtually the entire world (190 countries) dating back to the 1950s. Today’s update of the GDDoffers for the first time a glimpse of global debt developments up to 2017. By including both the sovereign and private sides of borrowing for the entire world, the GDD offers an unprecedented picture of global debt in the post-World War II era.

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According to update, global debt has reached an all-time high of $184 trillion* in nominal terms or the equivalent of 225 percent of GDP in 2017. On average, the world’s debt now exceeds $86,000 per person—more than 2½ times the average income per-capita. The top three borrowers in the world (United States, China, and Japan) account for more than half of global debt, exceeding their share of global output.

*Note: The number is $2 trillion higher than the estimated number released during Fiscal Monitor press conference in October 2018, because it includes end-2017 data and includes the debts of several countries who had not previously reported their updated data

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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