by Luke Miller,
This is an average of $86,000 for every person on the planet.
Currently, the world debt is at an all-time high of $186 trillion. According to the International Monetary Fund (IMF), this averages at over $86,000 for every person on the planet. The US, China, and Japan top the list of global borrowers, collectively accounting for over half of the debt.
The IMF has said that their share of debt exceeds that of output. Also, sharing China’s position at the top being a relatively new development. Since the year 2000, China’s share of the debt has surged from under 3% to over 15%.
The IMF reports that this debt is at an all-time high of $184 trillion. This equates to 225% of the world’s Gross domestic product (GDP) in 2017. This number has exceeded the estimated figure released in October by $2 trillion.
“By including both the sovereign and private sides of borrowing for the entire world, the GDD (Global Debt Database) offers an unprecedented picture of global debt in the post-World War II era,” said the IMF. GDD is a database of public and private debt for 190 countries.
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