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Global public debt at $88trn

Global public debt at $88trn

London: World leaders are flocking to Davos this week to pontificate on the planet’s most pressing problems, CNN reported. Two major wars, a shipping crisis, cyberattacks on state institutions and yet more alarming evidence of the climate emergency mean there is no shortage of talking points, CNN reported. But turning ideas into action when governments owe an unprecedented $88.1 trillion, equivalent almost to the world’s annual economic output, will be hard. Public debt exploded during the pandemic and new borrowing this year is likely to break records in several big economies.

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