How much debt is there in the world and who owes it to whom?

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Today we're going to be talking about debt - not the household debt that you might owe to your bank but the really big stuff - the debt that countries owe to financial institutions and, in some cases, to other countries. And we're talking about it because it's growing all the time - the world is more indebted now than it has ever been. The Covid pandemic triggered the biggest surge in debt around the world since World War II. That is what is being discussed at the IMF and World Bank Spring meetings where finance ministers, central bankers, CEOs and experts are gathered. Listen to World Business Report to find out more. Picture: Concept of Earth imprisoned by big heavy debt. Elements of this image furnished by NASA. Source: Getty Images)