The IMF is reporting on global debt and saying:
- total public and private global debt fell to 247% of GDP in 2021 versus 257% in 2020. That was the biggest drop in 70 years
- global total debt reached a record $235 trillion in 2021, still 19% of GDP above pre-pandemic levels
- biggest decline in debt was among advanced economies
- total debt rose in a low-income developing countries
- high inflation will continue to reduce debt ratios in 2022 but government's should use fiscal policies to reduce inflationary pressures
- managing high debt levels will become increasingly difficult if economic outlook deteriorates further