Global debt surged by $7.5 trillion in the first half of the year, hitting a new record of more than $250 trillion, data released Thursday from the Institute of International Finance shows.
Why it matters: The world's debt has now risen to 320% of what it produces, the highest level ever recorded — and IIF economists say they see "no sign of a slowdown." They expect the global debt load to exceed $255 trillion by the end of the year, with the U.S. and China leading the way.
