The world is $152 TRILLION in the red - the highest ever amount of debt - warns the IMF
Worldwide debt is the highest it has ever been, posing a huge obstacle to getting global economic growth back on track, the International Monetary Fund (IMF) warned today.
In a new report, the IMF warned that easy money policies of the world's top banks had stoked a private-sector credit binge in China, as well as rising public debt in some low-income countries.
Public and private debt - excluding the financial sector's - at the end of last year hit $152 trillion, with around two-thirds owed by the private sector, the report said.
Measured against the size of the world economy, it rose... read more
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