The world is mired in $315 trillion of debt, according to the latest May report by the Institute of International Finance.
"This increase marks the second consecutive quarterly rise and was primarily driven by emerging markets, where debt surged to an unprecedented high of over $105 trillion—$55 trillion more than a decade ago," the IIF said in its "While the health of household balance sheets should provide a cushion against 'higher for longer rates' in the near term, government budget deficits are still higher than pre-pandemic levels," the IIF added.
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