According to the World Bank, the latest wave of debt growth in the world is the largest, fastest-growing and most extensive of the four that has taken place since the 1970s.
World Bank analysts emphasize that the current wave of debt growth has no regional basis (like the wave of the 1980s, which affected South American countries), nor is it limited, like previous waves, only to the private or public sector. It is worth emphasizing, however, that the current wave concerns primarily developing countries.
In the case of up to 80 percent in this group, the level of debt in 2018 was higher than in 2010. Moreover, as many as one-third of these countries experienced an increase in debt of over 20% of their own GDP.
The total indebtedness of developing countries now exceeds 170 percent of their GDP and is $55 trillion.