From the world’s richest superpowers to the smallest island nations, everyone seems to owe someone. Global debt surged past US$250 trillion in 2024 and shows no sign of slowing down. But how did the entire world end up in debt, and why does it keep borrowing more?
There is no simple answer, but it has a lot to do with ambition, crisis, and survival. Governments borrow to build, rescue, stabilize, and sometimes, simply stay afloat. In this gallery, we explore how debt became the backbone of modern economies. Curious? Click to know more.
All figures are in USD.