Economists call for restrained spending as global debt hits record high
Global debt rose by around $1.3 trillion (€1.2 trillion) in the first three months of this year, reaching a new record high of $315 trillion (€293.5), according to a new report by The Institute of International Finance (IIF). After three consecutive quarters of decline, the global debt-to-GDP ratio resumed its upward trajectory from January to March. Emerging markets are driving the trend, claimed the IIF, with the biggest increases coming from China, India and Mexico. Mature markets, whilst they recorded smaller increases, nonetheless have higher levels of indebtedness compared with emerging ...