The global interest bill is about to jump
The world paid $10trn in interest last year. As rates begin to rise, we work out where the bill might go
NEVER BEFORE has the world economy been so indebted. The stock of global debt has gone from $83trn in 2000 to around $295trn in 2021—a rate nearly double the pace of world GDP growth. Debt rose from 230% of GDP in 2000 to 320% on the eve of the pandemic, before covid-19 propelled it to the even greater height of 355% last year.
This article appeared in the Finance & economics section of the print edition under the headline “The bill balloons”
Finance & economics February 5th 2022
- Why the impressive pace of investment growth looks likely to endure
- America prepares the “mother of all sanctions” against Russia
- OPEC grapples with a precariously balanced oil market
- The global interest bill is about to jump
- Why India’s stockmarket is roaring
- Why stockmarket jitters have not so far spread to the credit market
- China may soon become a high-income country
From the February 5th 2022 edition
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