Live News: Emerging market debt hits record high of $100 trillion

Emerging market debt has hit a record high of more than $100 trillion, more than a third of pre-pandemic levels, as concerns about financial leverage in a world of high interest rates mount.

According to the Institute of International Finance, global debt rose by $8.3tn to $306.3tn in the first three months of the year, the highest level since the first quarter of last year and the second-highest quarterly reading ever. ,

Global debt is now $45 trillion more than its pre-pandemic level and is “expected to grow rapidly,” the IIF said, citing an aging population, rising health care costs, higher national spending on defense and substantial Reasons for the climate finance gap.