Levels of debt in emerging markets continue to rise and are becoming a source of “significant concern”, the Institute of International Finance warned on Wednesday.
Total government, household, financial sector and corporate debt in emerging markets rose $1.6tn last year to $62tn, or more than 210 per cent of gross domestic product, according to the IIF, which represents global banks and other financial institutions.
It happened even as developed markets reduced their overall debt by an estimated $12tn last year, to about $175tn.
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