RIYADH: Global debt declined to $296 trillion in the third quarter of 2021 after reaching its highest level in the previous three months, Bloomberg reported citing IIF data show.
The economic recovery helped reduce the ratio of the global debt to GDP to 350 percent in the third quarter.
This decline was mainly driven by the mature markets, most significantly in the euro area and Japan, the IIF said.
Total debt in emerging markets rose to a record $92.5 trillion in the third quarter of the year, despite low borrowing costs and smaller budget deficits.
