November 19, 2020, by Pamela Heaven

A new report by the Institute of International Finance reveals that Canada saw the biggest jump in non-financial sector debt this year, beating Japan, the U.S. and the U.K.

Overall, global debt has soared by over $15 trillion between January and September of this year, hitting a new record of more than $272 trillion. 

Canada, Japan and the U.S. saw the biggest increases in debt-to-GDP ratios ranging from more than 75 percentage points in Canada to 45 percentage points in the U.S.

Understandably amid a pandemic, government debt is the biggest driver, climbing the most in Canada, Japan, the U.S. the U.K. and Spain. But Canada also showed the largest increases in household and non-financial corporate debt.

Posthaste: Canada is leading the ‘debt tsunami’ now sweeping the world

What does this mean?

This article is fascinating, even enlightening, but you may have no idea what to do with the information it  provides.

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