Jerome Powell, chairman of the US Federal Reserve, speaks during a House Budget Committee hearing in Washington, US on November 14. The IIF said global government debt is expected to top $70tn by the end of this year 'driven mainly by the surge in US federal debt'. Photo: Bloomberg
Jerome Powell, chairman of the US Federal Reserve, speaks during a House Budget Committee hearing in Washington, US on November 14. The IIF said global government debt is expected to top $70tn by the Show more

Economy

Global debt set to hit record $255tn by end of year

Debt surged by $7.5tn in the first half of 2019, led by US and China, according to the Institute of International Finance

Nada El Sawy
Nada El Sawy

November 16, 2019