Global borrowing surged by a staggering $7 trillion in 2024, pushing total debt to a record-breaking $318 trillion according to the Institute of International Finance (IIF). This marks the first significant increase in debt-to-GDP ratios since 2020 and represents a worrisome trend. The report highlights rising concerns about fiscal imbalances, particularly in countries with politically divided landscapes. This surge was driven by major economic contributors such as the US, China, France, India, and Brazil, who accumulated substantial new debt obligations.