World Debt rises sharply..!? India's place..?

Sowmiya Sriram
World Debt rises sharply..!? India's place..?

Since the outbreak of the corona pandemic around the world in 2020, the global economy has been hit hard by the impact on the supply chain, the sharp fluctuations in commodity prices, the huge impact on the employment market, the decline in income from tourism, trade, and manufacturing. The government of the world has borrowed more than ever to cope with this difficult situation. This has led to a surprising increase in global debt, especially as the debt-to-GDP ratio has peaked.
The World bank estimates that an estimated 97 million people worldwide were pushed below the poverty line during the Corona pandemic alone. As a result, many efforts and investments made by the nations of the world to eradicate poverty in the last 10 years have been in vain. During the Corona era, governments around the world were forced to spend more to improve health, tackle unemployment, reduce food insecurity, and revive bankrupt trade and commerce. As a result, global debt levels have risen to levels not seen in the last 50 years, according to a recent World Economic Outlook by the IMF.
Japan ranks first in the top 10 countries with the highest debt-to-GDP ratio. japan - 257 percent, sudan - 210 percent, greece - 207 percent, ethiopia - 175 percent, italy - 155 percent, singapore - 138 percent, maldives - 137 percent. In 2010, for the first time and for the first time, china achieved a debt-to-GDP ratio of 200 percent, rising to 257 percent in 10 years. Global debt reached $ 226 trillion by the end of 2020, the largest one-year increase since World war II.

While it is gratifying that india is not on the top 10 list, India's debt-to-GDP ratio stands at 91 percent in october 2021. india is preceded by brazil and then by Jordan.


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