Global swelling of debt posing risk to recovery, says Moody’s

This was especially so in emerging markets and Southern Europe, as the third and fourth waves of the Covid-19 pandemic were swelling, domestic demand was anemic, and jobs as well as incomes had suffered sustained blows, according to Moody’s Analytics.

PETALING JAYA: The total global debt rose to a record US$24 trillion (RM99 trillion) in 2020, pushing global leverage up a staggering 34 percentage points to a new high of 366% of gross domestic product (GDP).

This was especially so in emerging markets and Southern Europe, as the third and fourth waves of the Covid-19 pandemic were swelling, domestic demand was anemic, and jobs as well as incomes had suffered sustained blows, according to Moody’s Analytics.