IIF CEO Tim Adams sounded the alarm on rising levels of debt while
speaking to CNBC’s Silvia Amaro at the World Economic Forum in Davos,
Switzerland. ... "We need sobriety . . .."
The global banking industry’s premier trade group said late last year that worldwide debt climbed to a record of $307.4 trillion in the third quarter of 2023, with a substantial increase in both high-income countries and emerging markets.
The IIF said it expected global debt to reach $310 trillion by the end of 2023, warning that elections in more than 50 countries and regions this year could usher in a shift toward populism that brings with it still-higher debt levels.
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