Global debt refers to the total amount of money owed by all sectors, including governments, businesses, and households worldwide.[1]
As of 2022[update], global debt was the equivalent of 305 trillion USD. This including debt by both public and private debtors.[2] The total external debt owed by public and private debtors to creditors in other countries amounted to $76 trillion in 2019.[3] The global debt continues to grow. Between 2015 and 2019 global debt increased by approximately 6% per year.[4][5]
Private debt % of GDP: This is the total domestic and external debt of the citizens and private companies as percent of the gross domestic product of the country.
External debt: This is the total debt of public and private debtors to foreign country banks and other foreign creditors. The amounts are in billion US $, calculated by the official exchange rate (a billion is defined here as a thousand millions, or 109).
Total debt, billion $: This is the sum of all debt, domestic and external, owed by public and private debtors in the country. The amounts are in billion US $, calculated by the official exchange rate.
Money supply, billion $: This is the supply of broad money, or money in circulation, of the country in its own currency. The amounts are in billion US $, calculated by the official exchange rate.
Disclaimer:
Most values are from 2020 or 2021. Some values are a few years older. Values from different sources may not have been calculated in the same way. You cannot expect the table to be updated every year because some information is difficult to find and nobody has volunteered to keep the table up to date.
Data sources:
Public debt: IMF global debt database. Data for 2020.[6]
Private debt: IMF global debt database. Data for 2020.[6]
External debt:
Data for Australia, Austria, Bahrain, Belgium, Canada, Chile, Croatia, Cuba, Cyprus, Czech Rep., Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, Ireland, Israel, Italy, Japan, North and South Korea, Kuwait, Latvia, Lithuania, Luxemburg, Malta, Namibia, Netherlands, New Zealand, Norway, Oman, Poland, Portugal, Puerto Rico, Qatar, Saudi Arabia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Taiwan, United Arab Emirates, United Kingdom, USA, Uruguay, European Union, and World are from the CIA world factbook with data from 2019.[3] All other data are from the World bank with data for 2020.[7]
GDP: Most data are from IMF World Economic Outlook Database, 2022.[8]
Data for Afghanistan, Cuba, Lebanon, Pakistan, Syria, Ukraine, and World are from the World bank with data for 2020 or 2021.[7] The data for North Korea are copied from Economy of North Korea.
The money supply data are from the World bank with data for 2020.[7]
Consequences of high debt
There is more debt in the world than there is money in circulation.[9]
The ratio of total debt to money supply ranges from 1.7 in Japan and Switzerland to 4.7 in Denmark and Iceland. The ratio for the world total is 1.8, according to the above table. A high ratio of public debt to money cannot be sustained, according to some models.[10]
Economists prefer to look at the ratio of debt to the GDP. This ratio ranges from 1.5 in Latvia to 5.0 in Luxemburg. The world total is 3.5, according to the Institute of International Finance.[5]
The reason why there is more debt than money in circulation can be explained by the creation of credit money. When a bank issues a loan, it creates credit money and debt at the same time. The total debt in society and the total money in circulation are both increased by the same amount, which is the principal of the loan. By the time the loan has to be paid back, the debt has been increased by the compound interest while the credit money has not been increased. Most of the excess debt thus originates from compound interest of bank credit.[11][12]
It may seem impossible to repay all debt when there is more debt than money in the world, but it is theoretically possible to pay back all debt if the banks spend their income from interest payments to buy products and services so that the same money can circulate and be reused for more interest payments. However, critics fear that too much money is hoarded in the financial economy rather than spent in the real economy so that the total debt is spiraling up rather than being paid down.[13][14]
In fact, the global debt has grown by approximately 6% per year during the period from 2015 to 2021.[4][5]
The fast growing debt is a consequence of the current financial system that leads to an unbalanced and uncontrolled growth of money and debt.[12][20]
There is a distorted balance between public and private interests with insufficient democratic accountability, according to a Dutch government report.[19]
A high level of debt makes the economy unstable with risks of economic crises.[11][12]
The consequences of recurrent crises has been described as unfair because a disproportionate share of the benefits during a financial boom goes to the financial sector, while the general public bears the costs during the subsequent bust in the form of bankruptcies, bank bailouts, unemployment, and home evictions.[19]
For example, farmers in India are being forced to sell their farm and land because of inescapable debt (see Farmers' suicides in India).[21]
Consequences of high external debt
External debt consists of government debt to foreign countries as well as private debt in foreign currencies. External debt is different from domestic debt because it affects the trade balance. Interest payments and inflation contribute negatively to the trade balance of the debtor country, while it provides a surplus to the creditor country or the country that issues the currency.[12]
While the government can control the internal debt through its monetary policy and fiscal policy, it has fewer means to control the external debt.[12]
A high external debt can lead to sovereign default, especially for poor countries with limited export.[11]
The growing level of unserviceable external debt in poor countries is producing a dependent relationship between debtor and creditor countries. Critics claim that this debt dependence is often used as leverage for a neocolonial relationship.[22][23]
This view is opposed by development economists who find a beneficial effect of the inflow of foreign capital, whether in the form of direct investment or loans.[24]
Private banks earn rents from the circulation of money because most of the money in circulation originates from bank credit.[25]
An imbalance results if money created in one country is used for circulation in another country.
Currency substitution, i.e. payment in foreign currencies, is common in countries with a weak currency.[26]
As far as the currency that circulates internationally originates from bank credit, it provides a seigniorage profit and an interest rent in the country where the money is created and a corresponding trade deficit for the country where the currency is circulating or stored.[27][28]
This exacerbates the situation in poor countries, making them vulnerable to increasing external debt, inflation, and economic crises.[29]
Similar problems appear in countries that do not have their own currency. For example, the high external debt and financial crises of Greece, Italy, Spain, and several other Eurozone countries in the aftermath of the 2008 financial crisis was partially due to their lack of monetary autonomy and inability to control the money supply.[11]
^Rodriguez, Alvaro (1993). "The Debt Money Ratio: What are the Limits?". In Baldassari, Mario; Mundell, Robert; McCallum, John (eds.). Debt, Deficit and Economic Performance. St. Martin's Press. pp. 131–150.
^ abcdAngeles, Luis (2022). Money Matters: How Money and Banks Evolved, and Why We Have Financial Crises. Palgrave Macmillan. ISBN978-3-030-95515-1.
^ abcdefghMitchell, William; Wray, L. Randall; Watts, Martin (2019). Macroeconomics. Macmillan. ISBN978-1-137-61066-9.
^Turner, Adair (2016). Between debt and the devil: money, credit, and fixing global finance. Princeton University Press.
^Shiva, Vandana (2013). Making Peace with the Earth. Pluto Press. ISBN9780745333762.
^Charlton, Roger (2016). "External Debt, Economic Success and Economic Failure: State Autonomy, Africa and the NICs". In Riley, Stephen P. (ed.). The Politics of Global Debt. Springer. pp. 168–188. ISBN978-1-349-22822-5.
^Bossone, Biagio (2021). "Commercial bank seigniorage and the macroeconomy". International Review of Financial Analysis. 76: 101775. doi:10.1016/j.irfa.2021.101775. S2CID235507092.
^Canzoneri, Matthew; Cumby, Robert; Diba, Behzad; López-Salido, David (2013). "Key currency status: An exorbitant privilege and an extraordinary risk". Journal of International Money and Finance. 37: 371–393. doi:10.1016/j.jimonfin.2013.06.006.
Elson Ferreira de Souza Elsino di akhir Tamagawa Clasico - pertandingan antara FC Tokyo dan Kawasaki Frontale - dimainkan di Ajinomoto Stadium 16 April 2016Informasi pribadiNama lengkap Elson Ferreira de SouzaTanggal lahir 30 Oktober 1989 (umur 34)Tempat lahir BrasilPosisi bermain BekKarier senior*Tahun Tim Tampil (Gol)2015– Kawasaki Frontale * Penampilan dan gol di klub senior hanya dihitung dari liga domestik Elson Ferreira de Souza (lahir 30 Oktober 1989) adalah pemain sepak bola asal …
Artikel ini sebatang kara, artinya tidak ada artikel lain yang memiliki pranala balik ke halaman ini.Bantulah menambah pranala ke artikel ini dari artikel yang berhubungan atau coba peralatan pencari pranala.Tag ini diberikan pada November 2022. Józef KondratLahir(1902-03-03)3 Maret 1902Przemyśl, Austria-Hungaria (kini Polandia)Meninggal4 Agustus 1974(1974-08-04) (umur 72)Warsawa, PolandiaPekerjaanPemeranTahun aktif1933-1972 Makam Kondrat di Pemakaman Militer Powązki, Warsawa Józef…
Artikel ini sudah memiliki daftar referensi, bacaan terkait, atau pranala luar, tetapi sumbernya belum jelas karena belum menyertakan kutipan pada kalimat. Mohon tingkatkan kualitas artikel ini dengan memasukkan rujukan yang lebih mendetail bila perlu. (Pelajari cara dan kapan saatnya untuk menghapus pesan templat ini)Gerakan Pemuda Ka'bahKetua UmumH. A. Surya Wijaya GhalibSekretaris JenderalProf. Arman RemyDidirikan29 Maret 1982Markas besarJalan Sunan Giri No.1, Jati, Distrik Pulo Gadung, Jakar…
1972 studio album by Aretha Franklin For similarly named articles, see Young, Gifted and Black (disambiguation). This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Young, Gifted and Black – news · newspapers · books · scholar · JSTOR (April 2021) (Learn how and when to remove this template message) Young, Gifted a…
العلاقات البنينية الليبية بنين ليبيا بنين ليبيا تعديل مصدري - تعديل العلاقات البنينية الليبية هي العلاقات الثنائية التي تجمع بين بنين وليبيا.[1][2][3][4][5] مقارنة بين البلدين هذه مقارنة عامة ومرجعية للدولتين: وجه المقارنة بنين ليبيا المساح…
Kawasan pertokoan di Jalan Panglima Polim pada tahun 2011 Jalan Panglima Polim adalah nama salah satu jalan utama Jakarta. Nama jalan ini diambil dari nama seorang Pahlawan Nasional Indonesia asal Aceh yaitu Panglima Polem IX atau biasa dipanggil Panglima Polim. Jalan ini membentang sepanjang 1,6 KM dari Melawai, Kebayoran Baru, Jakarta Selatan sampai Pulo, Kebayoran Baru, Jakarta Selatan. Jalan ini berada di Jakarta Selatan. Jalan ini melintasi 3 Kelurahan, yaitu kelurahan: Melawai, Kebayoran B…
County in Ohio, United States County in OhioStark CountyCountyStark County Courthouse SealLocation within the U.S. state of OhioOhio's location within the U.S.Coordinates: 40°49′N 81°22′W / 40.81°N 81.37°W / 40.81; -81.37Country United StatesState OhioFoundedJanuary 1, 1809Named forJohn StarkSeatCantonLargest cityCantonArea • Total581 sq mi (1,500 km2) • Land575 sq mi (1,490 km2) • Water5.…
Questa voce sull'argomento geologia è solo un abbozzo. Contribuisci a migliorarla secondo le convenzioni di Wikipedia. Segui i suggerimenti del progetto di riferimento. Zona di ablazione del ghiacciaio Briksdalsbreen in Norvegia Il bacino di ablazione è la zona di un ghiacciaio dove si ha ablazione cioè perdita di ghiaccio per fusione, evaporazione, sublimazione o per distacco di masse. Il fenomeno che influenza maggiormente la perdita di ghiaccio è generalmente la fusione, ma in alcuni…
Alberto Missiroli (Cervia, 27 luglio 1883 – Roma, 18 luglio 1951) è stato un medico igienista italiano. Indice 1 Biografia 2 Opere 3 Bibliografia 4 Collegamenti esterni Biografia Sede dell'Istituto Superiore di Sanità a Roma Dopo la laurea in medicina, conseguita all'Università di Bologna nel 1908, e dopo un breve periodo in cui ha svolto la professione di medico condotto a Castiglione di Cervia, a partire dal 1910 si dedicò all'attività di ricerca in batteriologia, presso l'Istituto di I…
American baseball player (1924-1996) Baseball player Alex KellnerPitcherBorn: (1924-08-26)August 26, 1924Tucson, Arizona, U.S.Died: May 3, 1996(1996-05-03) (aged 71)Tucson, Arizona, U.S.Batted: RightThrew: LeftMLB debutApril 29, 1948, for the Philadelphia AthleticsLast MLB appearanceJune 23, 1959, for the St. Louis CardinalsMLB statisticsWin–loss record101–112Earned run average4.41Strikeouts816 Teams Philadelphia / Kansas City Athletics (1948–1958) Cincin…
Lok Sabha Constituency in Madhya Pradesh, India IndoreLok Sabha constituencyConstituency detailsCountryIndiaRegionCentral IndiaStateMadhya PradeshAssembly constituenciesDepalpur Indore-1 Indore-2 Indore-3 Indore-4 Indore-5 Rau SanwerEstablished1952ReservationNoneMember of Parliament17th Lok SabhaIncumbent Shankar Lalwani PartyBharatiya Janata PartyElected year2019 Indore Lok Sabha constituency is one of the 29 Lok Sabha constituencies in Madhya Pradesh state in central India. This constituency c…
Weightlifting at the Olympics Men's +110 kgat the Games of the XXI OlympiadVenueSt. Michel ArenaDate27 July 1976Competitors11 from 8 nationsWinning total440.0 kg ORMedalists Vasily Alekseyev Soviet Union Gerd Bonk East Germany Helmut Losch East Germany← 19721980 → Weightlifting at the1976 Summer OlympicsMen52 kg56 kg60 kg67.5 kg75 kg82.5 kg90 kg110 kg+110 kgvte The men's +110 kg weightlifting competitions at the 1976 Summer Olympics in Montr…
Artikel ini bukan mengenai Kemendagri. Artikel ini terlalu bergantung pada referensi dari sumber primer. Mohon perbaiki artikel ini dengan menambahkan sumber sekunder atau tersier. (Pelajari cara dan kapan saatnya untuk menghapus pesan templat ini) Kementerian Perdagangan Republik IndonesiaLogo Kementerian PerdaganganBendera Kementerian PerdaganganGambaran umumDasar hukum pendirianPeraturan Presiden Nomor 11 Tahun 2022Bidang tugasPerdaganganSloganMinistry of Trade Susunan organisasiMenteriZulkif…
Medium-sized antelope found in Africa For other uses, see Impala (disambiguation). Impala Ram in northern Botswana Ewe with calf at the Kruger National Park, South Africa Conservation status Least Concern (IUCN 3.1)[1] Scientific classification Domain: Eukaryota Kingdom: Animalia Phylum: Chordata Class: Mammalia Order: Artiodactyla Family: Bovidae Tribe: Aepycerotini Genus: Aepyceros Species: A. melampus Binomial name Aepyceros melampus(Lichtenstein, 1812) Subspecies A. m. mel…
Artikel ini sebatang kara, artinya tidak ada artikel lain yang memiliki pranala balik ke halaman ini.Bantulah menambah pranala ke artikel ini dari artikel yang berhubungan atau coba peralatan pencari pranala.Tag ini diberikan pada Desember 2022. Nicolas Douchez Informasi pribadiNama lengkap Nicolas DouchezTanggal lahir 22 April 1980 (umur 44)Tempat lahir Rosny-sous-Bois, PrancisTinggi 1,85 m (6 ft 1 in)Posisi bermain Penjaga gawangInformasi klubKlub saat ini Paris Saint-Germa…
Questa voce o sezione sull'argomento psicologia è priva o carente di note e riferimenti bibliografici puntuali. Sebbene vi siano una bibliografia e/o dei collegamenti esterni, manca la contestualizzazione delle fonti con note a piè di pagina o altri riferimenti precisi che indichino puntualmente la provenienza delle informazioni. Puoi migliorare questa voce citando le fonti più precisamente. Segui i suggerimenti del progetto di riferimento. Esempio di illusione ottica: la barra orizzonta…
Uranium-233, 233USebuah ampul yang berisi potongan-potongan campuran FLiBe dan uranium-233 tetrafluorida yang dipadatkanUmumSimbol233UNamauranium-233, U-233Proton (Z)92Neutron (N)141Data nuklidaWaktu paruh (t1/2)160.000 tahun[1]Isotop induk237Pu (α)233Np (β+)233Pa (β−)Produk peluruhan229ThMassa isotop233,039 uIsotop uranium Tabel nuklida lengkap Uranium-233 (233U atau U-233) adalah sebuah isotop uranium yang fisil yang dibiakkan dari torium-232 sebaga…