Global government debt-to-GDP ratios have hit historic highs, with emerging markets at ~78% and advanced economies at ~108%, doubling since 2008 and exceeding WWII peaks.
Macro & Markets ·
Emerging market economies' government debt-to-GDP ratio has reached approximately 78%, the highest level in records extending back to 1880, more than doubling since 2008 and surpassing the roughly 45% peak during World War II. Advanced economies' debt-to-GDP ratio stands at approximately 108%, remaining above 100% for the past decade after rising from below 80% before 2008. The emerging market ratio, which never exceeded 60% before 2020, now approaches 80% for the first time.