World debt rises to record high in late 2017
06/1/2018 12:00 am [rtl]In China reached 670 billion dollars Capitals / follow-up morning World debt rose to a record high of $ 16 trillion in the third quarter of 2017, while market data showed that Chinese local governments issued less debt in 2017. Data from the International Finance Institute showed that the world's debt reached $ 223 trillion in the third quarter of last year. World debt has risen as non-financial private sector debt increased to its highest level ever in Canada, France, Hong Kong, South Korea, Switzerland and Turkey. At the same time, the debt-to-GDP ratio fell in the three-month period ending in September for the fourth straight quarter, supporting economic growth. The ratio of debt to GDP at 318 percent is about 3 percent below the same level in the same period in 2016. In the same context, market data showed that Chinese local governments issued less debt in 2017, amid efforts to Debt relief in the country. Local governments issued 4.36 trillion yuan (670 billion US dollars) in debt through 1,134 bonds in 2017. The figure fell by 30 percent from the 6.05 trillion yuan of bonds in 2016 , according to figures from Wind, the financial data provider . The new bond volume was 1.58 trillion yuan, while the bond swap program was 2.77 trillion yuan. The program allows local governments to swap high-cost loans with low-cost bonds, helping to save interest costs and provide more liquidity to lenders. By the end of 2017, China has completed 10.85 trillion trillions of debt under the program, allowing an exchange of 1.88 trillion yuan of debt in 2018. Yang Xiaofing, an analyst with Cixi Credit Rating Agency, predicted that China will end its mid-year swap program, and the total value of the debt bond will remain at around 4 trillion yuan this year. Domestic government debt rose during the wave of investment and construction that followed the outbreak of the global financial crisis in 2008. With full awareness of these risks, the authorities took a number of measures to ease the domestic debt burden. Figures from China's Ministry of Finance said the outstanding government debt was 16.59 trillion yuan at the end of November, below the 18.82 trillion yuan target this year.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=150470[/rtl] |
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