Frankfurt - The global amount of outstanding debts reached $100trnas of mid-2013, owing to large-scale issuing of bonds by governments and businesses in the wake of the financial crisis, the Bank for International Settlements (BIS) said Sunday.
In 2007, the debt totalled $70trn, the umbrella organisation of 60 central banks said in the Swiss town of Basel. Most of the increase came from government programmes to boost economic growth and to rescue banks, said BIS.
Governments had a total of $43trn of outstanding amounts in domestic markets, some 80% higher than in mid-2007.
BIS noted that bonds have been increasingly held in the countries where they were issued.
"It suggests that the process of international financial integration may have gone partly into reverse since the onset of the crisis," the bank's experts wrote.
The banking sector has also become less globalised, according to their report. Banks have grown more and more reluctant to lend across borders and the amount of cross-border debt fell once again in the third quarter of 2013.
Lending among banks has also declined, with Europe showing the most pronounced downward trend, BIS said.