Nearly $29 trillion was added to global debt stockpiles in 2025, bringing the total to a record $348 trillion.

Over $26 trillion was added to global debt stockpiles in the first three quarters of 2025, marking a fresh high of near $346 trillion. Driven largely by government borrowing, debt in both mature and emerging markets has hit new records.

Sustainable debt issuance came in at $1.1 trillion in the first nine months of 2025, down nearly 15% year-on-year, pushing total cumulative issuance above $10 trillion—a well-established market segment despite headwinds in recent years.

Over $21 trillion was added to global debt in H1 2025, marking a new record annual high of $338 trillion.

Despite exceptional market volatility in early Q2, the market grew by $1 trillion year-over-year, led by the U.S. and emerging markets (excluding China).

Sustainable debt issuance totaled $400 billion in the first four months of 2025, over 30% lower than the same period last year—the weakest start since 2020 and a much more dramatic dropoff than in broader global bond and loan markets.

Global debt rose by some $7.5 trillion to a new record high of over $324 trillion in Q1 2025.

Nearly $7 trillion was added to global debt in 2024, marking a new record annual high of $318 trillion.

Total frontier market (FM) debt surged by over $160 billion in 2024, reaching nearly $3.8 trillion—the fastest accumulation since 2021. Government borrowing led the increase, with Pakistan, Kenya and Romania seeing the largest buildup.

The ESG debt universe expanded by over 20% in 2024 to $7.3 trillion, driven by strong issuance from supranationals and U.S. firms.