List of countries by government debt

[ST1976]

List of countries by government debt​

List of countries by government debt - Wikipedia

en.wikipedia.org

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=> General government gross debt

https://www.imf.org/external/datamapper/GGXWDG_NGDP@WEO/OEMDC/ADVEC/WEOWORLD

 

[ST1976]

List of National Debt by Country​

• This is a list of the gross national debt of 178 countries, showing the variation in debt levels from Venezuela at 304% of GDP to Macau at 0% of GDP.
• National debt refers to the amount of total government debt a country has. This is also referred to as ‘public sector debt’.
• It is compiled using data from the IMF.

Debt of selected economies​

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List of National Debt by Country​

Levels of general gross government debt. Debt levels as % of GDP for 2021 (² unless stated)

Rank	Country	Debt levels as % of GDP for 2021
1	Venezuela ²	304
2	Japan	256.5
3	Sudan	211.7
4	Greece	210.1
5	Eritrea	175.6
6	Suriname	157.4
7	Italy	157.1
8	Lebanon ²	154
9	Barbados	143
10	Maldives	139.7
11	Cabo Verde	137.6
12	Belize	134.6
13	United States	132.8
14	Portugal	131.4
15	Singapore	129.5
16	Bahrain	129.4
17	Mozambique	125.3
18	Bhutan	123.4
19	Zambia	118.7
20	Spain	118.4
21	Canada	116.3
22	Belgium	115.9
23	France	115.2
24	Cyprus	113
25	Angola	110.7
26	United Kingdom	107.1
27	Sri Lanka	105.4
28	Argentina (2)	103
29	Brazil	98.4
30	Jamaica	96.5
31	Dominica	96.4
32	Montenegro	94.6
33	Egypt	92.9
34	Jordan	91.2
35	Tunisia	91.2
36	Congo, Republic of	90.5
37	Bahamas, The	88.6
38	El Salvador	88.2
39	Mauritius	87.7
40	Pakistan	87.7
41	Austria	87.2
42	India	86.6
43	Croatia	86.3
44	Fiji	83.6
45	Iceland	82.5
46	Ghana	81.5
47	South Africa	80.8
48	Slovenia	80.5
49	Hungary	80
50	Israel	78.3
51	Guinea-Bissau	78.1
52	Mongolia	77.9
53	Morocco	77.1
54	Malawi	76.8
55	Burundi	75.6
56	Albania	75.4
57	Grenada	74.5
58	Gambia, The	73.9
59	Kyrgyz Republic	73.4
60	Yemen	73
61	Costa Rica	72.5
62	São Tomé and Príncipe	72.4
63	Australia	72.1
64	Kenya	71.5
65	Namibia	71.4
66	Oman	71.3
67	Gabon	71.1
68	Germany	70.3
69	Armenia	69.9
70	Iraq	69.7
71	China, People’s Republic of	69.6
72	Bolivia	69
73	Finland	68.8
74	Lao P.D.R.	68.3
75	Uruguay	68
76	Malaysia	67
77	Senegal	66.8
78	Dominican Republic	66.6
79	Rwanda	66
80	Ecuador	65.1
81	Puerto Rico	64.8
82	Colombia	64.2
83	Slovak Republic	64
84	Emerging market and developing economies	64
85	Georgia	63.9
86	Algeria	63.3
87	Ireland	63.2
88	Trinidad and Tobago	62.1
89	Panama	61.4
90	Mexico	60.5
91	Togo	60
92	Qatar	59.8
93	Serbia	59
94	Ukraine	58.1
95	Malta	57.9
96	Poland	57.4
97	Liberia	57
98	Mauritania	56.3
99	Netherlands	56.1
100	Ethiopia	56
101	Thailand	55.9
102	Honduras	53.9
103	North Macedonia	53.8
104	Korea, Republic of	53.2
105	Romania	52.6
106	Philippines	51.9
107	Zimbabwe	51.4
108	Lesotho	49.8
109	Tajikistan	49.8
110	Nepal	49.6
111	Papua New Guinea	49.6
112	Lithuania	49.5
113	Myanmar	49.1
114	Samoa	49
115	Uganda	48.8
116	Vietnam	48
117	West Bank and Gaza	47.9
118	Benin	47.7
119	Nicaragua	47.6
120	Latvia	47.2
121	South Sudan, Republic of	47
122	Madagascar	46.9
123	Burkina Faso	46.8
124	New Zealand	46.4
125	Côte d’Ivoire	46.3
126	Mali	46.1
127	Belarus	45.7
128	Switzerland	44.8
129	Niger	44.5
130	Equatorial Guinea	44.1
131	Czech Republic	44
132	Tonga	43.7
133	Cameroon	42.5
134	Guinea	42.3
135	Uzbekistan	42.3
136	Central African Republic	42.2
137	Chad	41.7
138	Denmark	41.6
139	Norway	41.6
140	Guyana	41.4
141	Indonesia	41.4
142	Sweden	40.4
143	Bangladesh	40.2
144	Djibouti	40.2
145	Moldova	39.5
146	Bosnia and Herzegovina	38.6
147	Tanzania	37.9
148	Turkey	37.1
149	United Arab Emirates	37.1
150	Iran	36.6
151	Paraguay	35.7
152	Peru	35.4
153	Chile	33.6
154	Cambodia	33.4
155	Guatemala	33.1
156	Taiwan Province of China	32.5
157	Nigeria	31.9
158	Saudi Arabia	31
159	Azerbaijan	30.9
160	Kazakhstan	27
161	Luxembourg	26.8
162	Haiti	26
163	Turkmenistan	26
164	Bulgaria	25.5
165	Botswana	25.3
166	Estonia	25.1
167	Marshall Islands	23.3
168	Kiribati	21.4
169	Russian Federation	18.1
170	Micronesia, Fed. States of	15.3
171	Timor-Leste	15
172	Kuwait	13.7
173	Congo, Dem. Rep. of the	12.4
174	Tuvalu	11.8
175	Afghanistan	8.8
176	Brunei Darussalam	2.3
177	Hong Kong SAR	0.9
178	Macao SAR	0

All debt levels apply to 2021, except ² No figures for 2021. Debt given for 2020

Source: IMF DataSet, accessed 1 September 2021
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Highest levels of Government debt in the world​

Problems of national debt​

High levels of national debt can cause these potential problems

1. Requirement of higher taxes and/or lower spending
2. Higher debt interest payments
3. Pressure to print money – causing inflation.
4. Debt financed by overseas borrowing can lead to external pressure
5. Crowding out of the private sector

See: more problems of government borrowing

How much can a government borrow?​

• Japan’s national debt is 265% of GDP and has been high for a couple of decades. This reflects the ability of Japan to borrow from domestic citizens. Despite prolonged periods of high debt, interest rates are still low because markets feel the government is still solvent.
• A developing economy like Argentina has a track record of default on debt, therefore markets are less willing to lend money to the government. Therefore when debt levels in Argentina increase it has a greater effect on pushing up interest rates.

Factors that depend on how much a government can borrow include​

• Default rates of government
• Inflationary pressures. High inflation will make investors less willing to buy government bonds because they will devalue due to inflation
• Can the government print its own money? If the government can print money it can avoid liquidity issues, though there is potential danger of inflation.
• What are the prospects for economic growth? Higher economic growth makes it easier to reduce debt to GDP ratios over time.
• How much can a government borrow?

Difference between debt and deficit​

Government debt is the total amount of outstanding liabilities. The deficit is the annual amount by which spending exceeds income. The debt is the accumulation of past deficits.

For example in 2020, the US deficit was $3.13 trillion. The US total debt is $29 trillion.

Causes of national debt​

This graph for US national debt shows how national crisis leads to a rise in government borrowing. This isn’t necessarily a bad thing. Government debt enabled the US government to finance the short-term costs of the two world wars. It also enabled the government to respond to the crisis of the 2008 financial crash and the 2020 Covid crisis. Causes of national debt can include

• Recession – tax revenues fall when the economy shrinks. Also the government spend more on unemployment benefits
• Investment – Governments might borrow to build new roads, schools and hospitals.
• Finance war –
• Demographic changes and welfare spending. An ageing population tends to place more strain on government finances with older people requiring more health care spending, pensions and also they pay less income tax.
• Political decisions. Some governments may support higher spending on welfare programmes, whearas other governments may target a balanced budget.

List of National Debt by Country - Economics Help

An updated list of countries national debt as % of GDP. From Venezuela at over 300% of GDP to Hong Kong and Brunei at close to 0%. Causes | problems| Explanation of national debt.

www.economicshelp.org

List of National Debt by Country - Economics Help

An updated list of countries national debt as % of GDP. From Venezuela at over 300% of GDP to Hong Kong and Brunei at close to 0%. Causes | problems| Explanation of national debt.

www.economicshelp.org

 

[ST1976]

Difference between debt and deficit
Government debt is the total amount of outstanding liabilities. The deficit is the annual amount by which spending exceeds income. The debt is the accumulation of past deficits.

For example in 2020, the US deficit was $3.13 trillion. The US total debt is $29 trillion.

Causes of national debt​

View attachment 960638

This graph for US national debt shows how national crisis leads to a rise in government borrowing. This isn’t necessarily a bad thing. Government debt enabled the US government to finance the short-term costs of the two world wars. It also enabled the government to respond to the crisis of the 2008 financial crash and the 2020 Covid crisis. Causes of national debt can include

• Recession – tax revenues fall when the economy shrinks. Also the government spend more on unemployment benefits
• Investment – Governments might borrow to build new roads, schools and hospitals.
• Finance war –
• Demographic changes and welfare spending. An ageing population tends to place more strain on government finances with older people requiring more health care spending, pensions and also they pay less income tax.
• Political decisions. Some governments may support higher spending on welfare programmes, whearas other governments may target a balanced budget.

List of National Debt by Country - Economics Help

An updated list of countries national debt as % of GDP. From Venezuela at over 300% of GDP to Hong Kong and Brunei at close to 0%. Causes | problems| Explanation of national debt.

www.economicshelp.org

List of National Debt by Country - Economics Help

An updated list of countries national debt as % of GDP. From Venezuela at over 300% of GDP to Hong Kong and Brunei at close to 0%. Causes | problems| Explanation of national debt.

www.economicshelp.org

Timeline of U.S. Federal Debt Since Independence Day 1776​

As we get closer to America’s 245th year of independence, it’s a good time to reflect on how debt is woven into our country’s fabric. Especially since we’re now weaving it faster than Betsy Ross ever sewed that first American flag.

Thanks to the cavalcade of economic relief bills prompted by the COVID-19 crisis, the federal debt hit $28.2 trillion in 2021, according to the Congressional Budget Office. That’s an increase of almost $7 trillion in two years.

Consider that our entire national debt didn’t hit $7 trillion until 2004 . In other words, the U.S. has accumulated as much debt in the past two years as it did in its first 228 years.

If the debt were a car and America suddenly had to pay for it, every man, woman and child would quickly have to come up with $85,200. Either that, or the country would be repossessed.

Our Founding Fathers knew debt would be part of the game, though their calculators did not have the 13 digits required to signify one trillion.

Shortly after the American Revolutionary War (1775-1783), public debt grew to more than $75 million and continued to swell considerably over the next four decades to nearly $120 million. However, President Andrew Jackson shrank that debt to zero in 1835.

It was the only time in U.S. history when the country was free of debt.

More than 200 years after the inception of our country and several wars, stock market crashes, powerful companies suffering from failed investments, rising unemployment rates, the famous bursting of a tech bubble, the bursting of a housing bubble and pandemic relief bills, federal debt is careening toward $30 trillion.
If Thomas Jefferson had a calculator, it would have read $30,000,000,000,000.

History of Debt in the United States

As we celebrate Independence Day in the United States, it's a good time to take a closer look at how debt is woven into our country's fabric.

www.debt.org

 

[ST1976]

How the U.S. Government Amassed $31 Trillion in Debt​

WASHINGTON — America’s debt is now six times what it was at the start of the 21st century . It is the largest it has been, compared with the size of the U.S. economy, since World War II, and it’s projected to grow an average of about $1.3 trillion a year for the next decade.

The United States hit its $31.4 trillion legal limit on borrowing this past week, putting Washington on the brink of another fiscal showdown. Republicans are refusing to raise that limit unless President Biden agrees to steep spending cuts, echoing a partisan standoff that has played out multiple times in the last two decades.

How the U.S. Government Amassed $31 Trillion in Debt

Two decades of tax cuts, recession responses and bipartisan spending fueled more borrowing — contributing $25 trillion to the total and setting the stage for another federal showdown.

www.nytimes.com

 

[MH.Yang]

Many PDF Indians have been under the impression that China is heavily indebted and India is not.

In truth, it is just the opposite.

 

[ST1976]

https://www.theatlantic.com/business/archive/2012/11/the-long-story-of-us-debt-from-1790-to-2011-in-1-little-chart/265185/

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Timeline: 150 Years of U.S. National Debt

This interactive visual shows how the U.S. national debt has fluctuated since 1900, as well as projections all the way to 2050.

www.visualcapitalist.com

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Many PDF Indians have been under the impression that China is heavily indebted and India is not.

In truth, it is just the opposite.

we won't say China is indebted, China is reasonably good, the list post#2.
India and Pakistan are also comparable, nearly similar, post#2

but USA is struggling with the worse time since WW2 . emerging economies like India, China, Pakistan virtually reduce debt with passage of time. but US has consumed my time, we only find US is no good in this thread....

 

[Cheepek]

Chinese government debt can be misleading because chunk of liabilities are held by local governments.
(As per recent data, China's government debt is also higher than India)

If you take into account total debt-to-gdp ratio then:
China: 295%
India: 170%

 

[ST1976]

Chinese government debt can be misleading because chunk of liabilities are held by local governments.
(As per recent data, China's government debt is also higher than India)

If you take into account total debt-to-gdp ratio then:
China: 295%
India: 170%


View attachment 960676

since 80s of last century, growth of China was mainly driven by export and hefty investments, which India and Pakistan didn't face. slowdown in Western economies/world would have some effects on Chinese economy, but their government debt is very low. China won't fall
Pakistan is also something no more indebted than India, post#2. Chinese helped roads/infrastructures in Pakistan, this way Pakistan would be little laggard than India but no bad. India is also something in middle in world
I find China would now finally better lead the world, fall of USA is on its head. US is heavily indebted and going no where in future, post#6.
also, export of China might have bottom out upto now. I find, overall China won't be worse of than today's economic level

 

[MH.Yang]

Chinese government debt can be misleading because chunk of liabilities are held by local governments.
(As per recent data, China's government debt is also higher than India)

If you take into account total debt-to-gdp ratio then:
China: 295%
India: 170%


View attachment 960676

The source of your data?

According to the June 2023 statement of the Chinese Ministry of Finance.
China's central government debt was RMB 16.19 trillion cny; China's local government debt was RMB 37.8 trillion cny;

the total was RMB 53.99 trillion, accounting for 44.6 per cent of total GDP (121 trillion cny)



Also, why do you have "pvt non-finanial" in the data you posted? What does that have to do with government debt? In the data you gave, China's debt is mainly from "pvt non-finanial".

财政部：截至8月末 全国地方政府债务余额控制在全国人大批准的限额之内-新闻-上海证券报·中国证券网

上证报中国证券网讯 财政部9月26日发布的2023年8月地方政府债券发行和债务余额情况显示，截至2023年8月末，全国地方政府债务余额387480亿元，控制在全国人大批准的限额之内。其中，一般债务149314亿元，专项债务238166亿元；政府债券385822亿元，非政府债券形式存量政府债务1658亿元。具体情况如下：　　一、全国地方政府债券发行情况　　（一）当月发行情况。

news.cnstock.com

 

[Cheepek]

The source of your data?

According to the June 2023 statement of the Chinese Ministry of Finance.
China's central government debt was RMB 16.19 trillion cny; China's local government debt was RMB 37.8 trillion cny;

the total was RMB 53.99 trillion, accounting for 44.6 per cent of total GDP (121 trillion cny)

财政部：截至8月末 全国地方政府债务余额控制在全国人大批准的限额之内-新闻-上海证券报·中国证券网

上证报中国证券网讯 财政部9月26日发布的2023年8月地方政府债券发行和债务余额情况显示，截至2023年8月末，全国地方政府债务余额387480亿元，控制在全国人大批准的限额之内。其中，一般债务149314亿元，专项债务238166亿元；政府债券385822亿元，非政府债券形式存量政府债务1658亿元。具体情况如下：　　一、全国地方政府债券发行情况　　（一）当月发行情况。

news.cnstock.com

View attachment 960685

http://114.115.232.154:8080/

 

[MH.Yang]

http://114.115.232.154:8080/

You count private sector credit into government liabilities?

 

[Cheepek]

You count private sector credit into government liabilities?

Do you have comprehension issues? I talked about total debt, not government debt.
There were 2 parts to my reply. The government debt you can find on IMF website. Total debt, I've provided the source.

Anyway who foots the bill in China if Evergrande defaults?

 

[MH.Yang]

Do you have comprehension issues? I talked about total debt, not government debt.
There were 2 parts to my reply. The government debt you can find on IMF website. Total debt, I've provided the source.

Anyway who foots the bill in China if Evergrande defaults?

In case you didn't know, Evergrande is listed in Hong Kong, domiciled in the Cayman Islands, and gets most of its debt from Wall Street. And under Chinese law, Evergrande's assets must be prioritised to pay off domestic Chinese debt. So almost all of Evergrande's debt is paid for by Wall Street. Don't you know that Evergrande has filed for bankruptcy in the US, but not in China?

What's more, more credit for the private sector represents a more active economy and investment. This is not a pernicious indicator. You can look at all the developed countries, where the size of private credit is large, and the poor countries, where this indicator is low.

 

[Cheepek]

In case you didn't know, Evergrande is listed in Hong Kong, domiciled in the Cayman Islands, and gets most of its debt from Wall Street. And under Chinese law, Evergrande's assets must be prioritised to pay off domestic Chinese debt. So almost all of Evergrande's debt is paid for by Wall Street. Don't you know that Evergrande has filed for bankruptcy in the US, but not in China?

What's more, more credit for the private sector represents a more active economy and investment. This is not a pernicious indicator. You can look at all the developed countries, where the size of private credit is large, and the poor countries, where this indicator is low.

Stop blabbering

 

[MH.Yang]

Stop blabbering

According to Chinese law, the order in which the bankrupt company pays off its debts is as follows:
1st. Employees' wages.
2nd. Taxes,
3rd. Bank loans,
4th. Customer rights and interests.
5th. Debts of domestic enterprises.
6th. Debts of foreign enterprises.
7th. Shareholders' equity.


With regard to Evergrande's corporate debt, the top eight are Wall Street companies, including the US Department of defense pension fund and the federal pension fund. No. 9 is the Japanese Pension Fund.

Now do you know why the Chinese government didn't save Evergrande?

The truth is that most of the debt in the Chinese property sector now comes from Wall Street and most of the Wall Street capital came into the Chinese property market in 2016/2017.