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Global bond sales to cross $10 trillion in 2022

by Mike Robinson

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© Reuters. FILE PHOTO: The S&P International emblem is displayed on its workplaces within the monetary district in New York Metropolis, U.S., December 13, 2018. REUTERS/Brendan McDermid

LONDON (Reuters) – International sovereign borrowing will attain $10.4 trillion in 2022, practically one-third above the common earlier than the coronavirus pandemic, S&P International (NYSE:) Scores mentioned in a report.

Regardless of an ongoing financial restoration, borrowing will keep elevated as a result of excessive debt rollover necessities and the continued struggle in Ukraine, the scores company mentioned in an annual be aware.

Whereas 137 international locations will borrow an equal of $10.4 trillion in 2022, an estimated 30% decrease than 2020, the general determine is one-third greater than the common borrowing between 2016 and 2019, S&P mentioned.

“Tightening financial circumstances will push up authorities funding prices,” S&P analysts mentioned.

“This may pose further difficulties to sovereigns which have been unable to restart progress, cut back reliance on overseas forex financing, and the place curiosity payments are already critically excessive on common.”

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