by canan sevgili
London (Reuters) – World debt has reached a record level of $ 337,700 billion (289.150 billion euros) at the end of the second quarter, under the effect of more favorable financial conditions, the weakening of the US dollar and more accommodating policies of central banks, shows the quarterly report of the Institute of International Finance (IIF) published Thursday.
This institute, whose members are both central banks and private actors in finance, stresses in this report that the world debt has increased by more than $ 21,000 billion in the first half of the year.
China, France, the United States, Germany, Great Britain and Japan have recorded the highest increases in debt levels in US dollars, although part of these increases is due to the drop in the dollar, according to IIF.
Since the start of the year, the greenback has lost 9.75% of its value compared to a basket of reference currencies.
“The magnitude of this increase is comparable to that observed in the second half of 2020, when the political responses linked to the pandemic (of COVID-19) led to an unprecedented increase in the global debt,” said IIF in its global Debt Monitor report.
(Written by Canan Sevgili, Etienne Breban, edited by Bertrand Boucey)
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