(not much) delever­ag­ing

Finweek English Edition - - IN BRIEF -

Seven years af­ter the burst­ing of the global credit bub­ble resu lted in t h e wor s t f i nan­cial cr i sis si nce t he Great De­pres­sion, debt con­tin­ues to grow. A new re­port by the McKin­sey Global In­sti­tute ( MGI) found that rather than re­duc­ing in­debt­ed­ness, or delever­ag­ing, al l ma­jor economies to­day have higher lev­els of bor­row­ing rel­a­tive to GDP t han t hey did i n 2007. Global debt in th­ese years has grown by $57tr, rais­ing the ra­tio of debt to GDP by 17 per­cent­age points, MGI said. That poses new risks to f inan­cial sta­bil­ity and may un­der­mine global eco­nomic growth. Since the Great De­pres­sion, global debt has in­creased by $57tr, out­pac­ing world GDP growth.

do not sum to to­tal be­cause of round­ing 2014 data for ad­vanced economies and China; Q4 2013 data for other de­vel­op­ing coun­tries

Source: Bank for In­ter­na­tional Set­tle­ments; Haver An­a­lyt­ics; In­ter­na­tional Mon­e­tary Fund

199

40

56

58

45

Q2 20142

286%

Na­tional sources; McKin­sey Global In­sti­tute anal­y­sis The num­ber of Grammy awards Bri­tish singer Sam Smith took home on 8 Fe­bru­ary, mak­ing him the night’s big­gest win­ner. His sin­gle Stay With Me earned him awards for record and song of the year. He also won the Grammy for best new artist and best pop vo­cal al­bum. South Africa’s Wouter Keller­man won the Grammy for the best new age al­bum for Winds of Sam­sara, which was recorded with I ndian com­poser Ricky Kej.

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