Global debt rises to new high of ૨૨૬ 3 trillion

(PTI) Washington, Ta. 13

The whole world is facing a debt burden due to the Corona epidemic. Which has led to a huge increase in global debt. The International Monetary Fund (IMF) says global debt has risen to a new high of ૨૨૬ 3 trillion.

In 2021, India's debt is projected to increase to 30.5 per cent. China contributes 40 per cent to global debt, while other emerging economies and low-income developing countries contribute 7 per cent.

According to the IMF, the debt of governments, households and non-financial corporations has risen to ૨૨૬ 3 trillion by 2020. Which was ૨૭ 3 trillion in 2014. This is a record increase so far. The figure also includes public and non-financial private sector debt.

In its Fiscal Monitor report, the IMF said that India's debt was 4.5 per cent of GDP in 2016. Which has risen to 6.5 per cent in 2020. It is projected to increase to 20.5 per cent in 2021. However, according to the IMF estimates, India's debt is expected to fall to 7.5 per cent in 203 and 7.5 per cent of GDP in 203.

The IMF said in its report that the risk has increased from a fiscal perspective. Such difficulties in the global economy are detrimental to growth in vaccine production and distribution, especially for emerging markets and low-income developing countries.

On the other hand, new forms of the virus, low vaccination rates in many countries and delays in the acceptance of vaccines by some people could lead to new problems and affect the public budget.