Global Debt Surges to $324 Trillion, Raising Alarms Over Economic Stability

The Institute of International Finance reported a record $324 trillion in global debt, equivalent to over 350% of total GDP worldwide. China and the U.S. led the spike, fueled by stimulus spending and infrastructure outlays. Developing nations face intensified risk of default as interest rates climb. Although policymakers continue to prioritize pandemic recovery and geopolitical challenges, many experts warn that high debt levels reduce governments’ capacity to handle new crises.