MAMELLO MATIKINCA-NGWENYA: Global debt mountain looms over all countries

Global debt is estimated to have reached a record high in the second quarter of 2023. At an estimated $307-trillion (R5.815-quadrillion), this number has continued to escalate from the pandemic-induced lift in 2020 and now equates to about 336% of global GDP.

Of this global debt stock, public debt accounts for about 40% but has nevertheless accelerated at the fastest pace…