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IMF warns of potential financial risks as global debt hits $226 trillion

By Arghyadeep Dutta - Dec 15, 2021, 07:02 PM ET
Last Updated - Feb 12, 2024, 02:04 PM EST
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It said debt was needed to protect livelihood and avoid a wave of bankruptcies during the pandemic

IMF said 90% of the surge in borrowings are from developed countries and China

• IMF said 90% of the surge in borrowings are from developed countries and China

• It said debt was needed to protect livelihood and avoid a wave of bankruptcies during the pandemic

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The International Monetary Fund (IMF) on Wednesday said the global debt surged to $226 trillion in 2020, the biggest ever one-year jump since World War II, mainly due to the COVID-19 pandemic and a deep recession.

In a blog post, the IMF said the debt jumped 256% of global GDP last year, increasing 28 percentage points.

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