Global liabilities increased in 2021 and positioned himself in a record figure from US$303 billionthrough the contribution of US$10 billion in the last 12 months.
(Gross government debt fell in January to $720.58 billion.)
This growth in global debt, according to the National Financing Institute, was mostly due to thanks to emerging markets largely driven by China.
By sector, general government and non-financial corporations experienced the largest increases.
On the other hand, debt outside the financial sector reached US$233 trillion, up US$9 trillion from US$224 trillion in 2020.
(Slowdown and logistics crisis, trade risks in 2022).
However, aided by the economic recovery and rising inflation, the debt to debt ratio World GDP fell from an all-time high of more than 360% in 2020 to 351% in 2021, still some 28 percentage points above pre-pandemic levels.
The IIF evidenced in its analysis the greatest decreases, especially in the business sector of mature markets, both non-financial companies and financial institutions. Overall, 75% of countries experienced a decline in debt ratios last year.
(Measures to guarantee sustainability of public finances).
Similarly, emerging market debt is fast approaching $100 trillion. As of 2021, it increased by around $8.5 trillion for a total of $95 trillion.
Among countries, China experienced the sharpest increase in the dollar value of outstanding debt, in total it rose by around US$7 trillion, closing at US$60 trillion in 2021. This value corresponds to a larger increase than that of the United States. , which was US$5.3 billion.
Still, at around 330% of GDP, total debt in China is around 6pp less than in 2020.
In the case of Colombia, in all sectors, global debt growth decreased, except for the financial sector, which remained at 6%.
In 2020, the general figure for the country reached 140.2%, and in 2021 it dropped to 105.5%, that is, 34.7 pp less.
Going back, the IIF found that emerging markets borrow more in local currency, thus foreign currency debt accounted for only 2% of the increase.
Furthermore, excluding domestic bank loans, more than 85% of gross issuance in the bond and loan markets in 2021 was in local currency, the highest level since 2003.
PAULA GALEANO BALAGUERA
BRIEFCASE
