The credit crunch has cost world governments a combined total of over $10trn in support for financial institutions, according to the International Monetary Fund (IMF).
IMF research also suggests the UK will suffer one of the worst budget deficits in the developed world following its huge bailout programme.
The bulk of spending, around $9.2trn, has come from the major developed economies, while an additional $1.6bn has been stumped up by developing countries.
Much of the costs have come from guarantees and loans, though almost $2trn has already been spent up-front.
The overall budget deficit across the G20's rich countries is expected to hit 10.2% in 2009, the worst since World War II, but Britain is expected to fare particularly badly.
By the end of 2009, the IMF says the UK will have a budget deficit of 11.6%, while by 2012 this will have risen to 13.3% of GDP.
Total government debt in the UK is expected to approach 100% of GDP by 2014, which could have serious implications for the UK's AAA credit rating.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till