Global debt hits record $353 trillion, driven by US & China: IIF

Global debt climbed to a record nearly $353 trillion by the end of March, driven largely by borrowing in the US and China, according to the Institute of International Finance (IIF). The debt rose by more than $4.4 trillion in the first quarter, the fastest increase since mid-2025. However, the global debt-to-GDP ratio remained broadly stable at around 305%.