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Does the next economic crisis lie in surging global debt?

The IMF’s recent warning should be taken very seriously

By George Magnus  

IMF head Christine Lagarde. Photo: ABACA/ABACA/PA Images

Global public and private debt, according to the International Monetary Fund, reached $164 trillion in 2016, the equivalent of 225 per cent of global GDP. This is almost $50 trillion more than in 2007. In advanced economies, the level of debt as a share of GDP was higher in 2016 than at any time since World War Two, while in emerging and middle income countries the debt share was at its highest since the Asian crisis in 1997-98. By the end of this…

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