In 2015, total debt in emerging economies rose by $1.6 trillion exceeding $62 trillion, a report published on March 16 by Institute of International Finance says.

The institution, which acts as a syndicate of major investment and commercial banks and other global finance operators, said $730 billion of bonds issued by emerging markets governments and companies from emerging countries would mature this year. Also, $890 billion will mature in 2017, a third of it in US dollars.

IIF highlighted that the higher indebtedness endangers economic growth of emerging markets.

“Growing repayment of maturing debts through new borrowings, higher indebtedness risks and endangers future economic growth of emerging markets,” it said, indicating however that bonds and loans to emerging markets was down 35% since the beginning of the year compared to the same period in 2015.

Established in 1983, IIF revealed that the decrease in sovereign debt and households’ indebtedness in developed countries led to decrease in global indebtedness by $12,000, last year, to $175,000 billion.