The level of debt and the lack of regulation in the corporate sector is a concern for the International Monetary Fund (IMF), one of its directors has told CNBC.
The level of debt and the lack of regulation in the corporate sector is a concern for the International Monetary Fund , one of its directors told CNBC.
"We are particularly worried about the corporate sector, where leverage is rising, underwriting standards and some pockets of the corporate sector are deteriorating," he told CNBC's Joumanna Bercetche at the IMF's Spring Meetings. According to the Institute of International Finance , in the United States, non-financial corporate debt-to-GDP stood at 73% at the end of last year — close to its pre-crisis peak. Meanwhile in emerging markets, non-financial corporates were one of the top contributors to rising debt levels in the region last year.
World Bank President David Malpass also told CNBC this week that there is too much debt floating around the world and the biggest reason is China. Beijing has seen an economic slowing over the last few years, leading to the national authorities easing credit conditions on different occasions. As a result, corporate debt has soared, reaching a record high in 2018.
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