$27 trillion. That’s the amount global public debt has grown by since the financial crisis gripped the world eight years ago, according to the McKinsey Global Institute. By and large, the story of the world economy is one in which emerging markets have loaded on debt, while the developed world has struggled to reduce the burdens it amassed in the wake of banking bail-outs and years of stagnant economic growth. The Bank of International Settlements calculates government debt in G7 countries has grown by 40 percentage points to 120pc of GDP since the crisis began.
Source: The Telegraph, 09/03/2015