Global debt soars by US$29 trillion as US, China drive rapid build-up: report
South China Morning Post
by Mia NurmamatFebruary 27, 2026
Global debt climbed to a record high in 2025, rising at the fastest pace since the pandemic, with China and the United States accounting for a large share of the increase, according to a new report.
Total global debt surged to US$348 trillion last year, with nearly US$29 trillion of new debt added over the year, the Institute of International Finance (IIF) said.
Government borrowing accounted for more than US$10 trillion of the increase, with the United States, China and the euro zone together...
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Originally published on South China Morning Post on 2/27/2026