The world is in debt – level 1
The world’s debt is now 307 trillion dollars. It is the highest number ever.
Banks are not lending as much money as before. Interest rates are higher. But the debt is still growing. A recent report says that in the first part of 2023, the debt goes up by 10 trillion dollars. Over ten years, it goes up by 100 trillion dollars. The report says that prices go up very fast. This makes the debt go down in the last two years. But the situation will change in the coming months.
Most of this new debt is from rich countries like the US, Japan, Britain, and France. In other countries like China, India, and Brazil, the debt also goes up. Experts say that when the interest rates are higher, it will be more difficult for governments and people to pay the money back.
You can watch the original video in the Level 3 section.
What are the possible implications of the growing debt for governments and people?
LEARN 3000 WORDS with NEWS IN LEVELS
News in Levels is designed to teach you 3000 words in English. Please follow the instructions
How to improve your English with News in Levels:
- Do the test at Test Languages.
- Go to your level. Go to Level 1 if you know 1-1000 words. Go to Level 2 if you know 1000-2000 words. Go to Level 3 if you know 2000-3000 words.
- Read two news articles every day.
- Read the news articles from the day before and check if you remember all new words.
- Listen to the news from today and read the text at the same time.
- Listen to the news from today without reading the text.
- Answer the question under today’s news and write the answer in the comments.