The International Monetary Fund (IMF) warned that global debt is now higher than before the global financial crisis. The IMF estimates that global debt reached US$164 trillion, equivalent to 225% of global GDP, with China being a key booster over the past decade. The IMF warned that nations with high government debt are vulnerable to a sudden tightening of global financing conditions.
This could disrupt market access and jeopardize economic activity. Indonesia’s debt ratio, however, remained safe at 28.7% of the country’s gross domestic product (GDP) in 2017.