IMF Conference
December 15, 2021
The IMF’s Global Debt Database (GDD) is a unique dataset covering private and public debt for virtually the entire world dating back to the 1950s. It differs from existing datasets in three major ways. First, where most debt datasets either provide long series with a narrow and changing definition of debt or comprehensive debt concepts over a short period, the GDD adopts a multidimensional approach by offering multiple debt series with different coverages, thus ensuring consistency over time. Second, it more than doubles the cross-sectional dimension of existing private debt datasets. Finally, there are regular checks to improve the quality of the data including through bilateral consultations with country officials and IMF country desks.
Please contact Joni Mayfield, ( jmayfield@imf.org) for any questions.
The 2021 update of the IMF’s Global Debt Database documents the largest one-year debt surge after World War II. As countries were hit by the pandemic, global debt rose to $226 trillion, or 256 percent of GDP in 2020. Borrowing by governments accounted for slightly more than half of this increase, as global public debt jumped by 20 percent. The share of public debt in global debt reached new highs not seen in more than 50 years, reflecting a large cumulative increase since the global financial crisis. Private debt rose by 10 percent in 2020, partly reflecting the support of central banks and government. The rise in debt varied significantly across countries given very unequal capacity of governments and central banks to support households and businesses during the pandemic and a deep economic recession.
In a context of a still evolving pandemic, rising inflation, and record high public and private debt, the roundtable will discuss how countries can manage the elevated debt.
Moderator:
Panelists:
The IMF’s Global Debt Database (GDD) is a unique dataset covering private and public debt for virtually the entire world dating back to the 1950s. It differs from existing datasets in three major ways. First, where most debt datasets either provide long series with a narrow and changing definition of debt or comprehensive debt concepts over a short period, the GDD adopts a multidimensional approach by offering multiple debt series with different coverages, thus ensuring consistency over time. Second, it more than doubles the cross-sectional dimension of existing private debt datasets. Finally, there are regular checks to improve the quality of the data including through bilateral consultations with country officials and IMF country desks.
Please contact Joni Mayfield, ( jmayfield@imf.org) for any questions.
