New Delhi. The world is burdened with debt, but the most interesting thing is that the countries which we often associate with economic crisis, like Sri Lanka and Pakistan, are nowhere in the list of top-7 debtor countries this time. Instead, this list includes such big and developed countries whose economy is considered the strongest in the world.
Japan’s debt more than double GDP
According to the data, America alone has the largest share in global government debt (34.5%). China is at second place by almost half the difference, while Japan is at third place but the burden of debt in comparison to GDP is heaviest on Japan, which has reached 229.6%. India is also included in this list and its share in global debt is 3%. However, India’s debt-to-GDP ratio is lower than many developed countries.
Who owes how much? (Share of global government debt)
America – 34.5 percent
China – 16.8 percent
Japan – 8.9 percent
UK – 3.7 percent
France – 3.5 percent
Italy – 3.1 percent
India – 3.0 percent
It is telling that more than half of the world’s total government debt is held by only three countries, America, China and Japan.
What is the debt burden compared to GDP?
Japan – 229.6 percent
Italy – 136.8 percent
America – 125 percent
France – 116.5 percent
UK – 103.4 percent
China – 96.3 percent
India – 81.4 percent
Japan’s debt is more than twice its GDP, which represents the highest burden in the world. At the same time, India’s situation can be considered better than many countries.
What are the 10 most indebted countries in the world
