“Global debt has grown to a new record of $ 281 billion [232,9 biliões de euros] By 2020: The epidemic in 61 countries in our model increased by $ 24 billion with a sharp decline in public and private revenues driven by total public and private debt. [19,9 biliões de euros] Last year, more than a quarter of $ 88 billion [72,9 biliões de euros] In the last decade “, read the Global Credit Monitor released today.
The same document shows that after $ 161 billion in 2019, debt outside the financial sector reached 5 185.9 billion.
The IFI added that the ratio of gross domestic product (GDP) to gross domestic product (GDP) had risen by 35 percentage points in 2020 to 355 per cent, “more than the increase seen during the 2008 global financial crisis”.
“In 2008 and 2009, global debt growth was defined as 10 percentage points and 15 percentage points, respectively.” This year’s increase is “expected to be relatively moderate” because “global debt problems are still prevalent at coveted levels (supported by lower credit costs).” “.
However, the company points out that “credit paths vary considerably” because “the vaccination rate varies considerably between countries, and the difficulty in distributing vaccines can delay recovery and encourage debt accumulation”. Debt and low-income countries.
France, Spain, Greece, the United Kingdom, Belgium, Cyprus, Canada and Italy are among the countries with the largest increase in gross non-financial debt to GDP by 2020.
According to the report, public debt accounted for 105% of global GDP, up from 88% in 2019, and is “more than half the increase” in world debt, which was more than 3.5 3.5 billion in 2019 and more than 9 9.9 billion in 2020.
“We expect global public debt to increase by a further $ 10 billion [8,3 biliões de euros] This year and surpassed 92 billion [76,3 biliões de euros] Not the end of 2021 “, reveals or IFI.
“Finding the right exit strategy after the 2008/09 financial crisis is very challenging,” the company warns, adding that “political and social pressure can limit government efforts to reduce deficits and debt, and compromise your ability to cope with future crises.” “.
The IFI warns that “early withdrawal of government-backed measures could lead to the eruption of bankruptcies and a new wave of bad credit, which will have an impact on the financial stability of the banking sector,” but on the other hand, there may even be an extension of support to “encourage the accumulation of debt by weaker and more indebted institutions”.
Measures such as private non-financial loans (housing and companies) “reached 165% of GDP in 2020, after 124% in 2019”, default on credit and state guarantees will lead to this type of debt. For 100% of GDP, eight percentage points above 2019.
The financial sector had “the largest annual increase in debt rates for more than a decade”, with a five percentage point increase in GDP in 2020, the “largest increase since 2007 and the first annual increase since 2016”, according to the data. IFI.