The global debt mountain continues to grow.
The Institute of International Finance, in a Monday note, underlined how not just the U.S. but also Europe and other emerging economies have increased borrowing to take advantage of the low interest rate environment, with strong global growth whetting the appetite for debt among consumers.
Researchers at the banking trade group estimated the global stock of debt amounted to $237 trillion in 2017, a $21 trillion increase from the previous year.
“Still-low global rates continue to support unprecedented levels of debt accumulation,” the report said. Read: Look at how out of control U.S. ‘debt creep’ is compared with the rest of the world...