The Institute of International Finance (IIF) reported that global debt increased by over $10 trillion in the first half of 2026, reaching a new record high of over $365 trillion. Concurrently, the average government borrowing cost for G7 nations rose to its highest level since mid-2008. Over the past year, developed economies' interest payments on internationally traded government bonds alone exceeded $3.3 trillion, an increase of almost 85% from previous levels.