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

ISTANBUL

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 Monday.

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

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

Emerging market debt also reached $72.5 billion or 220% 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