Global debt levels hit a new record high of $313 trillion in 2023, with developing economies scaling a fresh peak for the ratio of debt to their gross domestic product, a study showed. The Institute of International Finance (IIF), a financial services trade group, said on Wednesday that global debt surged by over $15 trillion in the last quarter of 2023 year-on-year. The figure stood at around $210 trillion almost a decade ago, according to the data. “Around 55% of this rise originated from mature markets, mainly driven by the U.S., France, and Germany,” said the IIF in its Global Debt Monitor, adding the global ... (full story)