Global debt rose by more than $10 trillion in 1H26 to a record $365.5 trillion, with emerging markets accounting for most of the increase, the Institute of International Finance (IIF) said on September 23. Emerging market debt jumped by $6.5 trillion to $110.6 trillion, led by China, according to the IIF's latest Global Debt Monitor, "A Debt-intensive Future - and Growing Risks for Global Markets". Mature market debt rose more slowly, to $255 trillion. The overall increase was less than half the $21 trillion added in the first half of 2025, as rising interest rates, higher debt-service costs, surging energy prices and the conflict with Iran weighed on borrowers. . [...]