The global debt ballooned to a record high of more than $250 trillion and shows no sign of slowing down, according to a new report from the Institute of International Finance (IIF), which warned that this massive debt could impact international efforts to mitigate climate change.

Worldwide debt surged by $7.5 trillion in the first half of 2019, urging researchers to predict that the global debt would exceed $255 trillion by the end of the year.

“Extended low interest rates and easy money has facilitated the accumulation of a bone crushing amount of debt over the last decade or…