Global GDP-to-debt ratio fell by the most in seven decades

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New Delhi: Debt to global gross domestic product (GDP) ratio has declined the most in the last seven decades in 2021. However, the amount of debt is still higher than the pre-Corona level, which can be said to be a matter of concern for the policy makers of various countries of the world.

Compared to 2020, the global debt to GDP ratio in 2021 is 10 percent lower at 247 percent.

In 2021, private and public debt stood at $235 trillion, accounting for 247 percent of global GDP. The global economic situation, which weakened in 2020 due to Corona, improved sharply in 2021, according to a blog by the International Monetary Fund (IMF).

The IMF's global data base has provided information on how many countries are still under pressure due to Corona. Since global economies have opened up, inflation has reared its head around the world as supply has not kept up with demand. Apart from this, as a result of the Russia-Ukraine war, food and energy prices have gone up.

Due to economic recovery and inflation, in 2021 Brazil, Canada, India and America have reduced the debt ratio by more than 10 percent.

According to IMF calculations, 34 percent of the world's GDP will be reduced for two consecutive quarters in the current and next year and by 2026 the GDP will have lost up to 4 trillion dollars.

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