코로나에 짓눌린 세계 경제... 전세계 부채 277조 달러 돌파
With COVID-19 infections soaring worldwide and numerous nations on full lockdown,... the global economy is spiraling into a tailspin... and beginning to drown in increasingly eye-watering amounts of debt.
Choi Won-jong with the details. The COVID-19 pandemic is projected to push global debt to a record 277 trillion U.S. dollars by year's end.
The Institute of International Finance published a report Wednesday titled "Attack of the Debt Tsunami,"... which also forecast the debt-to-global GDP ratio to reach 365 percent.
The report cited a significant increase in borrowing by countries, companies as well as individuals.
Many governments are attempting to provide financial support for companies and their citizens, and more firms are scrambling for extra funding as their profits dry up due to the pandemic.
For the U.S., its debt is projected to hit 80 trillion U.S. dollars in 2020, up from 71 trillion the previous year.
In Europe, debt has risen 1-point-5 trillion dollars to 53 trillion dollars.
Among developing economies, Lebanon, China, Malaysia and Turkey have seen the biggest increases in their non-financial sector debt ratios so far this year.
The institute said uncertainty remains on how the global economy can deleverage from this situation going forward.
This comes as the International Monetary Fund on Thursday released on a report on G20 economies.
The IMF said the global economic recovery is slowing as countries battle resurging cases of COVID-19.
The IMF's Managing Director warned in a blog post that the economic path ahead remains difficult even with a medical solution,... urging countries to cooperate to ensure the fair and swift distribution of vaccines when they become available.
Choi Won-jong, Arirang News.
#COVID19 #Economy #Debt
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2020-11-20, 10:00 (KST)
