A “systemic failure” poses a risk to the world financial system, according to the organization’s Secretary-General Antonio Guterres Global public debt reached an unprecedented level of $92 trillion last year, with developing countries shouldering a disproportionate amount, the United Nations highlighted on Wednesday. According to a new report by the UN Global Crisis Response Group, since 2000 world public debt has jumped more than fivefold, outpacing global GDP, which tripled over the same period. Almost 30% of the total global debt is owed by developing countries, it shows. “Half our world is sinking into a devel
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