World Economy

The International Monetary Fund says the world is now a record $152 trillion in debt. That comes as countries are being urged to spend more to boost flagging growth if they can afford it.

IMF Managing Director, Christine Lagarde Source: AAP

Global debt levels have dominated the International Monetary Fund's (IMF) annual meetings taking place in Washington.

In a new report, the IMF says public and private debt combined has reached 225 per cent of global economic output last year. That is up from 200% in 2002.