Govt debts crossed $41 trillion globally in 2010

The total amount of debt incurred by governments across the world jumped to a staggering USD 41.1 trillion last year, accounting for 69 per cent of the global GDP, because of stimulus packages and anaemic economic growth, says a report. 

Many governments , especially in the developed world, have resorted to massive stimulus measures to bolster their economies since the 2008 global financial meltdown. "Public debt outstanding (measured as marketable government debt securities) stood at USD 41.1 trillion at the end of 2010, an increase of nearly USD 25 trillion since 2000. 

"This was the equivalent of 69 per cent of global GDP, 23 percentage points higher than in 2000. In just the past two years, public debt has grown by USD 9.4 trillion -- or 13 percentage points of GDP," global consultancy McKinsey said. Last year alone, government debt accounted for about 80 per cent of the overall growth in total outstanding debt.