Global debt hits all-time high with $253T: Report

Global debt jumped $9.6 trillion to reach $252.6 trillion year-on-year in the third quarter of 2019 -- an all-time high -- the Institute of International Finance said on Jan. 13.

Total debt totaled more than threefold (322 percent) the global GDP, the U.S.-based institute announced.

Institute data showed that mature market debt constituted 71.3 percent of the total global debt with $180.1 billion.

Emerging market debt also reached $72.5 billion or 220 percent of their GDP in the third quarter of last year.

"Spurred by low interest rates and loose financial conditions, we estimate that total global debt will exceed $257 trillion in Q1 2020," the institute said.

Non-financial sector debt totaled $74.4 billion (up 4.3 percent), while government debt totaled $69.2 billion (up 6.1 percent), the financial sector racked up $61.5 billion (up 1.3 percent), and household debt totaled $47.5 billion (up 3.7 percent).