India's debt less than best, emerging economies: IMF

India's debt less than best, emerging economies: IMF

A top official of the International Monetary Fund (IMF) warned that global debt has reached record high of $ 1,82,000 billion in 2017.

New Delhi: Compared to the world's best and emerging market economies, the burden of debt on India is low. A top official of the International Monetary Fund (IMF) warned that global debt has reached record high of $ 1,82,000 billion in 2017. Vittor Gaspar, director of IMF's Department of Fiscal Affairs, said that India's debt is less than global debt in the percentage of global GDP.

According to the IMF's latest data, private debt in India was 54.5 percent of GDP in 2017, while the government's debt was 70.4 percent. The total debt was 125 percent of GDP. At the same time, the debt on China is 247 percent of GDP. Gaspar told PTI that in such a way, India's debt is much lower in the percentage of global GDP.

They said that India's debt is less than average of emerging economies of average debt of developed economies. He said that there has been a significant increase in the debt of developed economies since the global financial crisis. Gaspar said that during the last few years, India's personal debt has come down from 60 per cent of GDP to 54.5 per cent, which is quite stable. According to Gaspar, private loans have increased faster than the public debt in emerging markets.

0/Post a Comment/Comments

Previous Post Next Post