In early 2024, global public debt reached $91.4 trillion, marking a 6% increase from the previous year. Government debt now makes up 98.1% of GDP worldwide, with Latin America averaging 68.7%. Argentina leads the region with a debt-to-GDP ratio of 117.7%, followed by Brazil at 83.8% and Colombia at 61.3%.
The Institute of International Finance pointed out these fiscal disparities as public debt in Latin America and the Caribbean decreased from 71% of GDP in 2020 to 60% in 2023. However, forecasts suggest a potential rise to 62% by 2026 due to economic challenges and high-interest rates.
On June 4, 2024, U.S. stock markets closed higher amid a cooling labor market, possibly leading to Federal Reserve rate cuts. Job openings in the U.S. dropped to 8.06 million, the lowest in three years. In Latin America, markets showed mixed results with Argentina’s Merval index falling by 4.71%, while Colombia and Mexico saw gains, showcasing the region’s economic diversity.
