Signal Corporate debt sits at or below 25-year averages in much of the world; Ireland cut 21 points

Summary

MGI finds that corporate debt is below or roughly in line with its 25-year average across much of the world. In Europe corporate debt is trending down, and Ireland recorded the sharpest move in 2025, cutting corporate debt by 21 percentage points of GDP within a single year. China is the major exception, with corporate debt about double the global average and up by six percentage points of GDP in 2025. Chinese corporate debt, at 1.7 times GDP, is the highest among the economies the report focuses on. The contrast underlines how debt dynamics differ sharply by country and sector rather than moving together.