Economy Global debt has reached record high, says IMF Updated : April 19, 2018 01:40 PM IST China alone has contributed 43% to the increase since 2007. In emerging market economies, debt at almost 50% of GDP on average is at levels that in the past have been associated with fiscal crisis. In contrast, for low-income developing countries, average debt-to-GDP ratios at 44% of GDP are well below historical peaks. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.