An IMF report states that Japan tops the list of the world’s most indebted countries, with a debt of 216 % of its GDP. Greece follows closely in second place with a debt of 203% of its total GDP.
Japan
Japan’s debt which stands at 216% of its GDP is a significant concern for the country’s economic stability. The government has been implementing various measures to address the issue.
Greece
Greece has been trying to deal with a debt crisis for several years, and continues to face economic challenges. It has a debt of 203% of its GDP
United Kingdom
With a debt of 142% of its GDP, the UK is third on the list. Given its economic status and being considered one of the wealthiest nations in the world, it is unexpected for it to come that high on this list.
Lebanon
Lebanon ranks fourth on the list with a debt of 128% of its GDP. The country is also dealing with regional conflicts and political instability.
Spain
With a debt of 111% of its GDP, Spain is struggling with the aftermath of the Russia-Ukraine war and the COVID-19 pandemic.
United States of America
Surprisingly, the economic powerhouse USA is also on this list with a debt of 110% of its GDP. Chronic deficits, wars in Iraq and Afghanistan, 2008 financial crisis, the COVID-19 pandemic, tax policies, etc are the major reasons for this.
India
Despite having a place in this list India’s debt of 46% of its GDP is comparatively lower compared to the other nations on the list. India is also the fastest growing economy in the world. The country’s adapting economic policies have contributed to this.
