The Institute of International Finance report published on Wednesday estimated that the nominal value of global debt declined by some $4 trillion, bringing it fractionally back under the $300 trillion threshold breached in 2021.
In contrast, the amount of developing world debt hit a fresh record high of $98 trillion with Russia, Singapore, India, Mexico, and Vietnam seeing the largest individual rises. Again, though, the improvement was driven by developed markets which saw an overall 20 percentage points fall to 390%. The emerging market debt ratio rose by 2 percentage points meanwhile to 250% of GDP, largely driven by China and Singapore.
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