NEW YORK: Emerging markets’ debt-to-gross domestic product ratio returned to record highs despite a $6.4 trillion decline in the global debt pile to $290 trillion in the third quarter due to a strong dollar and slowing bond sales, an Institute of International Finance report found, according to Reuters.
Budget deficits and slower economic growth lifted the debt-to-GDP ratio in developing economies to 254 percent, matching a record high hit in the first quarter of 2021, the IIF said in its latest Global Debt Monitor published on Tuesday.
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