IMF warns of mounting global debt: ‘United States stands out’

From ZeroHedge:

Exactly one year ago, in its Global Financial Stability report, the IMF issued a stark warning when looking at the soaring level of private sector debt: it found that more than 20% of U.S. corporations are at risk of defaults once interest rates rise, and calculated that the combined assets of firms threatened by default – those who earnings do not cover their interest expense – could reach almost $4 trillion.

Fast forward exactly one year to today, when the IMF once again sounded the alarm on debt, only this time on the public side of the ledger, warning about – what else – excessive global borrowing, and noting that with a total of $164 trillion of debt, or 225% of global debt to GDP

… the world’s public and private sectors are more in debt now than at the peak of the 2008 financial crisis, when global debt/GDP peaked

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