According to a new report published by the Institute of International Finance, total global debt reached a record $365 trillion in the first half of the year.
The overall figure grew by more than $10 trillion. Developing countries accounted for the main portion of this significant increase.
On an annual basis, their total debt rose by $6.5 trillion, surpassing the $110 trillion threshold.
Such a record increase in the debt burden points to deepening financial pressures in the global economy, which primarily impact vulnerable economies.
The rapid accumulation of debt in developing countries increases the risks of defaults and financial instability, which could further slow global economic growth.
