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.
A small plane crashed into the terrace of a residential building near Mönchengladbach, western Germany, on Saturday, killing two people, police said.
President Ilham Aliyev met Michael Harms, Chairman of the Eastern Committee of the German Economy, to discuss expanding Azerbaijan-Germany economic relations and the signing of a joint economic projects roadmap.
Germany has dismissed Russian accusations of warmongering, defending its support for Ukraine’s missile development as a stand for international law.
Russian Foreign Minister Sergey Lavrov said Germany’s direct involvement in the war is already "evident," responding to German Chancellor Friedrich Merz’s remarks supporting long-range strikes by Ukraine.
Germany will deliver an additional €5 billion in military aid to Ukraine, the country’s defense ministry announced on Wednesday, as President Volodymyr Zelenskyy met with top German officials in Berlin.
As Germany considers providing long-range Taurus missiles to Ukraine, military experts warn the move could enable Kyiv to strike targets deep inside Russian territory, including Moscow — a shift that could escalate tensions and draw NATO closer to direct confrontation.
Ukraine has carried out one of its largest drone strikes of the war, reportedly hitting more than 40 Russian military aircraft at multiple air bases, a Ukrainian security official told Reuters on Sunday.
Ukrainian President Volodymyr Zelenskyy said on Sunday that Ukraine will attend a meeting in Istanbul on Monday, following a proposal from Russia.
Flash floods in central Nigeria have killed at least 151 people, with authorities warning the toll may rise further as search and rescue operations continue in the flood-ravaged town of Mokwa, Niger State.
A celebration of Turkish cuisine and friendship took place in Karachi on Sunday as the Turkish Consulate hosted a World Breakfast Day event, sharing traditional flavours with a distinguished Pakistani audience.
On May 28, the inauguration ceremony of Lachin International Airport was held.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
Wall Street futures slipped as a surprise court ruling brought back most of Trump-era tariffs, shaking investor confidence heading into month-end.
Model Hailey Bieber is selling her skincare brand Rhode to e.l.f. Beauty in a deal worth up to $1 billion (£790 million), with plans for international expansion and continued viral success.
As Germany considers providing long-range Taurus missiles to Ukraine, military experts warn the move could enable Kyiv to strike targets deep inside Russian territory, including Moscow — a shift that could escalate tensions and draw NATO closer to direct confrontation.
Ukraine has carried out one of its largest drone strikes of the war, reportedly hitting more than 40 Russian military aircraft at multiple air bases, a Ukrainian security official told Reuters on Sunday.
Ukrainian President Volodymyr Zelenskyy said on Sunday that Ukraine will attend a meeting in Istanbul on Monday, following a proposal from Russia.
Flash floods in central Nigeria have killed at least 151 people, with authorities warning the toll may rise further as search and rescue operations continue in the flood-ravaged town of Mokwa, Niger State.
A celebration of Turkish cuisine and friendship took place in Karachi on Sunday as the Turkish Consulate hosted a World Breakfast Day event, sharing traditional flavours with a distinguished Pakistani audience.
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