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Global Debt Monitor - COVID Drives Debt Surge—Stabilization ahead?

Global Debt Monitor - COVID Drives Debt Surge—Stabilization ahead?

Summary: Pandemic response helped add $24 trillion to the global debt mountain in 2020, bringing it to a new high of $281 trillion. Debt in mature markets is fast approaching $205 trillion—up from $183 trillion in 2019. Factoring in a sharp economic con-traction, European countries saw some of the biggest increases in debt ratios in 2020—notably France, Spain and Greece. EM debt/GDP topped 250% in 2020, up from 220% in 2019—biggest increases in Brazil, Korea, Turkey, UAE, and China. The non-financial corporates sector is increasing reliant on government support—exacerbating pre-existing vulnerabilities. We have added Peru and Vietnam to our debt monitor and revised historical debt series for mature market economies.