US, China drag global debt to $235trn, IMF raises concern for developing nations

The International Monetary Fund (IMF) said global debt increased to $235 trillion in 2022, which is 238 percent of the global gross domestic product reported last year.

IMF said the United States and China accounted for a combined $117.5 trillion in debt, representing 50 percent of the global debt.

The financial organisation disclosed this in a report titled; ‘Global Debt Is Returning to its Rising Trend,” which was obtained on Thursday, but dated September 13, 2023.

RipplesNigeria : Read More