In a new report, the World Banks warns the largest and fastest rise in global debt in half a century could lead to another financial crisis amid the slowing world economy.
The World Bank has warned the largest and fastest rise in global debt in half a century could lead to another financial crisis as the world economy slows.The World Bank says debt increased at a faster annual pace from 2010 to 2018 than during the Latin American debt crisis of the 1980s
The report found roughly half of the debt surges in emerging and developing countries since 1970 ended in a financial crisis The bank said during the fourth wave, from 2010 to 2018, the debt to GDP ratio of developing countries has risen by more than half to 168 per cent.Problematically, the rise in debt has been across both private companies and governments across the world, amplifying the risks if there is another global financial crisis.
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