Ian Explains
Ian Explains: Why is global debt so high?
Ian Explains: Why is global debt so high? | GZERO World with Ian Bremmer
May 30, 2023
As of 2023, global debt as ballooned to an eye-watering $300 trillion. That’s an average of $37,500 for every person on the planet.
Why is global debt so high? Decades of low interest rates and cheap good made money easy to borrow. Then, along came a pandemic which stalled growth and a war in Ukraine that drove food and energy prices through the roof.
While these crises impacted just about every nation on Earth, they didn’t react in the same way. The US and the European Union pumped trillions of pandemic stimulus money into their economies to keep them afloat, but poorer nations kept borrowing money they couldn’t afford to pay back. Now, an estimated 60% of those countries are facing debt distress and rising inflation means paying down those bills is more expensive.
Can the world do anything about the impending debt crisis before it’s too late?
On GZERO World, Ian explains what the debt problem means for the global financial system and whether it needs to be transformed to confront the economic realities of the developing world.
More For You
Prime Minister Narendra Modi, with President of the European Council António Luís Santos da Costa, and President of the European Commission Ursula von der Leyen, at Hyderabad House, in New Delhi, India, on Jan. 27, 2026.
DPR PMO/ANI Photo
On Tuesday, the world’s largest single market and the world’s most populous country cinched a deal that will slash or reduce tariffs on the vast majority of the products they trade.
Most Popular
Sponsored posts
Five forces that shaped 2025
What's Good Wednesdays
What’s Good Wednesdays™, January 28, 2026
Mexican President Claudia Sheinbaum Pardo stands alongside Canadian Prime Minister Mark Carney and US President Donald Trump during the 2026 World Cup draw at the John F. Kennedy Center for the Performing Arts in Washington, D.C., on December 5, 2025.
Deccio Serrano/NurPhoto
Canadian Prime Minister Mark Carney has repeatedly tussled with US President Donald Trump, whereas Mexican President Claudia Sheinbaum has tried to placate him. The discrepancy raises questions about the best way to approach the US leader.
Fighters of the Qassam Brigades, the armed wing of the Palestinian Islamist Hamas movement, attend a rally marking the 35th anniversary of the group's foundation in Gaza City on December 14, 2022.
Photo by Majdi Fathi/NurPhoto
10,000: The number of Hamas officers that the militant group reportedly wants to incorporate into the US-backed Palestinian administration for Gaza, in the form of a police force.
Walmart is investing $350 billion in US manufacturing. Over two-thirds of the products Walmart buys are made, grown, or assembled in America, like healthy dried fruit from The Ugly Co. The sustainable fruit is sourced directly from fourth-generation farmers in Farmersville, California, and delivered to your neighborhood Walmart shelves. Discover how Walmart's investment is supporting communities and fueling jobs across the nation.
© 2025 GZERO Media. All Rights Reserved | A Eurasia Group media company.