World debt hits record high of $164 trillion: IMF
The world's debt reached a record $164 trillion in 2016, which is worth 225% of the world's Gross Domestic Product, according to the International Monetary Fund. The world is now 12% of GDP deeper in debt than the previous peak in 2009, the IMF added. Notably, China alone contributed more than 40% to the increase in global debt since 2007.