Global debt rose by around $7.5 trillion in the first three months of the year to hit a record high of over $324 trillion, data from a banking trade group showed on Tuesday.
The Institute of International Finance (IIF) said China, France, and Germany were the largest contributors to the global debt increase, while debt levels declined in Canada, the UAE, and Turkey.
"While the sharp depreciation of the U.S. dollar against major trading partners contributed to the increase in the USD value of debt, the Q1 rise was more than quadruple the average quarterly increase of $1.7 trillion observed since the end of 2022," the IIF said in its Global Debt Monitor.
The global debt-to-output ratio continued to slowly crawl lower, standing just above 325%. However, in emerging markets the ratio hit a record high at 245%.
Total debt in emerging markets rose by over $3.5 trillion in the first quarter to a record high of more than $106 trillion. China alone accounted for over $2 trillion of the rise according to the IIF. China's government debt to GDP is at 93% and expected to hit 100% before the end of the year.
Australia’s Prime Minister Anthony Albanese said Canberra supports the U.S. strike on Iran and calls for de-escalation and diplomacy.
China has condemned the U.S. strike on Iran’s nuclear sites, warning it has undermined Washington’s credibility and risks triggering a broader regional crisis.
Some Democratic and Republican lawmakers are urging Congress to limit President Donald Trump’s military actions in Iran, warning against deeper U.S. involvement in the escalating Middle East conflict.
The International Atomic Energy Agency (IAEA) confirmed that U.S. strikes hit entrances to tunnels storing part of Iran’s enriched uranium at the Isfahan nuclear site.
The Israeli military says Iran has launched missiles at Israel, following Israeli air strikes on military sites in Tehran, Karaj, and other parts of Iran. Iranian air defences have been activated in multiple locations amid escalating hostilities.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
Japan’s core inflation rose to a more than two-year high in May, exceeding the central bank’s 2% target for over three years and increasing pressure on the Bank of Japan (BOJ) to resume rate hikes.
Two Nigerian communities will take Shell to trial in the UK in 2027 after winning a court ruling over Niger Delta oil pollution.
The European Investment Bank (EIB) announced Friday it is raising its financing ceiling to a record €100 billion to accelerate investments in defence, energy security and Europe’s technological leadership.
Meta has teamed up with Oakley to release AI-powered smart glasses, expanding its push into wearable tech after the success of Ray-Ban Meta glasses. The social media company is expanding its partnership with Oakley and Ray-Ban-parent EssilorLuxottica.
Australia’s Prime Minister Anthony Albanese said Canberra supports the U.S. strike on Iran and calls for de-escalation and diplomacy.
China has condemned the U.S. strike on Iran’s nuclear sites, warning it has undermined Washington’s credibility and risks triggering a broader regional crisis.
Some Democratic and Republican lawmakers are urging Congress to limit President Donald Trump’s military actions in Iran, warning against deeper U.S. involvement in the escalating Middle East conflict.
The International Atomic Energy Agency (IAEA) confirmed that U.S. strikes hit entrances to tunnels storing part of Iran’s enriched uranium at the Isfahan nuclear site.
The Israeli military says Iran has launched missiles at Israel, following Israeli air strikes on military sites in Tehran, Karaj, and other parts of Iran. Iranian air defences have been activated in multiple locations amid escalating hostilities.
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