Global debts rise to 100 trillion dollars in wake of crisis

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The global amount of outstanding debts has risen to 100 trillion dollars as of mid-2013, owing to large-scale issuing of bonds by governments and businesses in the wake of the financial crisis, the Bank of International Settlements (BIS) said Sunday.

In 2007, the debt totalled 70 trillion dollars.

Most of the increase came from government programmes to boost economic growth and to rescue banks, said BIS.

The international financial body has 60 central banks as its members and is based in the Swiss town of Basel.

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