Total bill: US$100,000,000,000,000

World debt climbed by 40% between mid-2007 and 2013.

World debt now stands at US$100 trillion, according to a Bloomberg report based on figures from the Bank for International Settlements. That compares to a world GDP of US$72.4 trillion in 2012, as calculated by the World Bank.

Between mid-2007, when the first signs of the crisis appeared, to mid-2013, total debt rose by 40% from US$70 trillion, as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates. During the same period, the value of equities globally shrunk by US$3.86 trillion to US$53.8 trillion, according to data compiled by Bloomberg.

About the Author

Yan Barcelo

Yan Barcelo is a journalist in Montreal.

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