Global debt hit an all time high of $307 trillion in the first half of 2023 - and developed economies like the US are piling it up at a faster pace

• Global debt hit an all-time high of $307 trillion in the first half of 2023, the Institute of International Finance reported.
• Global debt-to-GDP has resumed an upward trajectory in the same timeframe.
• But household debt ratios are at a two-decade low, providing some cushion to higher interest rates.

Global debt surged by around $10 trillion in the first half of this year, hitting an all-time record of $307 trillion, the Institute of International Finance reported.

Developed markets were responsible for about 80% of the new debt, with the US, Japan, the UK, and France contributing the largest shares. Meanwhile, debt in emerging markets was led by China, India, and Brazil.