Capital Markets: Observations & Insights

Degrees of Debt

The Sea of Debt Rises

• Over the past decade, global debt has grown 5% annually and now exceeds $175 trillion

• The fast pace of credit growth has driven global debt as a percentage of GDP to nearly 245%

Global Debt

200

270%

180

250%

160

140

Debt has been rising in absolute terms and as a % of global GDP

230%

120

% of GDP

100

210%

80 $ Trillions

190%

60

40

170%

20

0

150%

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Source: Bank for International Settlements, June 2018. Debt is credit to non-financial sectors.

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