Biggest economies face €6.5 trillion refinancing bill in 2016

The amount of debt that the governments of the world’s leading economies will need to refinance in 2016 will be little changed from last year as nations make strides in cutting budget deficits to a third of the highs seen during the financial crisis.

The value of bills, notes and bonds coming due for the G7 nations plus Brazil, China, India, and Russia will total $7.1 (€6.53) trillion, compared with $7tn in 2015 and down from $7.6tn in 2012.

Japan, Germany, Italy, and Canada will all see redemptions fall, while the US, China, and the UK face increases.