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The US-based ratings agency Standard & Poor’s in its latest report published on Sunday forecasts a 4 percent decrease in commercial borrowing by the 130 sovereigns it currently rates, to reach $6.8trn in 2017.
Standard & Poor’s expects total outstanding global sovereign commercial debt stock to rise during 2017 by almost $1trillion to reach an all-time high of $44trn by the end of this year. Net borrowing as a share of GDP has been decreasing gradually from 3.3 percent in 2014.
The United States and Japan will again be the most prolific borrowers this year, accounting for 60 percent of the total, followed by China, Italy, and France, said S&Ps.
Other sovereigns borrowing a large absolute additional amount are in emerging markets: China (+$25bn), Brazil (+$18bn), Thailand and Russia (+$ 17bn each) and India (+$10bn).
