Abstract:

While the effects of the 2008 global financial crisis continued in the world, the Covid-19 pandemic crisis was experienced, and the Russia-Ukraine war that started after that led to the energy crisis, accompanied by high inflation and slowdown in economic growth. In addition, the global debt problem, which has been on the agenda since 2008, has continued to increase with the pandemic. For this reason, the study focuses on the global debt problem in general since the 2008 financial crisis and makes a general assessment by considering the current developments in indebtedness status of developed and developing countries. As a result, global debt has nearly doubled over the 2008-2022 period. While debt in developed countries has increased approximately 1.5 times in fourteen years, it has increased more than 4 times in developing countries. The problem of sustainability of debts may arise because of possible external financing difficulties in developing countries.

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