Global debt is a pressing issue that affects countries across the world, from developed nations to emerging economies. In recent years, debt levels have risen to unprecedented levels, with some countries facing unsustainable levels of debt that threaten their economic stability and the well-being of their citizens.
According to the International Monetary Fund (IMF), global debt reached a record high of $281 trillion in 2020, equivalent to 355% of global GDP. This is a worrying trend that has been exacerbated by the COVID-19 pandemic, which has caused many countries to take on additional debt to fund emergency relief measures and support their economies.
