Credit to the general government sector as a share of GDP, the BIS's core debt measure: loans and debt securities at market value, consolidated. Shown for context; it has no threshold. The BIS measure was 87 % of GDP in early 2026, close to the ONS's public sector net debt.
The BIS core measure leaves out trade credit, pension liabilities and, for China, most local-government financing vehicles, so it sits below the IMF's broader figures.