دانلود کتاب Global Debt Monitor - November 2019

Global Debt Monitor - November 2019
November 14, 2019

https://www.iif.com/Research/Capital-Flows-and-Debt/Global-Debt-Monitor

• Global debt surged by $7.5 trillion in H1 2019, hitting a new record of over $250 trillion. With no sign of a slowdown, we expect the global debt load to exceed $255 trillion in 2019—largely driven by the U.S. and China.
• EM debt topped $71.4 trillion in Q2 2019, reaching a fresh record of 220% of GDP; state-owned enterprises account for over half of all EM non-financial corporate debt. EM bonds now comprise over 47% of total EM debt outside the household sector— up from 43% in 2009. Spurred by low global rates, FX debt is on the rise again across emerging markets.
• Lack of transparency could exacerbate risks for some vulnerable sovereign borrowers. Heavy debt burdens may also weigh on efforts to mitigate climate change—a significant source of concern particularly for some EMs and low-income countries.
• Some $9.4 trillion of EM bonds/syndicated loans come due through end-2021, highlighting upcoming refinancing risks.