K-12 Tax & Spending Climate: Debt Worldwide Hits Record $184 Trillion, or $86,000 Per Person

Katia Dmitrieva:

Global debt hit a record $184 trillion last year, equivalent to more than $86,000 per person — more than double the average per-capita income.

Borrowing is led by the U.S., China, and Japan, the three biggest economies, the International Monetary Fund said Thursday, highlighting potential risks to global expansion given that their share of debt exceeds that of output. Overall, the amount of worldwide public and private debt is equal to about 225 percent of gross domestic product.

The IMF debt figure is $2 trillion higher than the fund’s previous estimate released in October, adding end-2017 data and several countries that had not previously reported updated numbers. The agency uses data for 190 countries dating back to the 1950s.