Mubasher: Global debt has reached a new record high, according to a recent report by the International Monetary Fund (IMF).

The report showed that three countries, United Stated, China, and Japan, account for more than half of the rising debt that totalled $164 trillion in 2016, equal to 225% of the global gross domestic product (GDP).

The figure includes the debt of governments, households, and companies.

The IMF warns that countries with elevated government debt are vulnerable to a sudden tightening of global financing conditions, noting that advanced economies were resting on their laurels, with deficits remaining unchanged on average.