Global debt increased by USD 7 tln in 2024, reaching USD 318 tln, a record high, with debt as a share of GDP rising for the first time in four years. The Institute of International Finance warns that governments should be cautious of rising debt burdens, with borrowing likely to remain high in countries such as the US, France, China, India, and Brazil. The IIF also predicted slower borrowing this year, given the uncertain economic outlook.