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Countries And Governments With The Most Debt

Though it may sometimes seem like it, the United States is not alone in the swimming pool of debt. There are other countries and governments that are either in the shallow end or about to plunge into dangerous waters. It can actually make us feel better to know that others feel our pain.

The CIA World Factbook 2010 includes a list of countries arranged by the amount of public debt they hold. The figure represents the total of all monies borrowed by their governments minus any repayments. Figures reflected in the Factbook are listed as a percent of the annual Gross Domestic Product (GDP) as of 2009.

Zimbabwe comes in at number one with public debt that is 282.60 percent of GDP. This is the only country with over 200 percent public debt when compared to GDP. Japan, at number two, has public debt in the amount of 189.30 percent of GDP. Just behind it is Saint Kitts and Nevis, a federal nation comprised of two islands located in the West Indies. Having a public debt that is 185 percent of annual GDP is a very bad situation considering this is the smallest sovereign nation located in the Americas as measured by both population and area.

Lebanon, Jamaica, Italy, Greece, Singapore, Iceland, and Sudan follow respectively on the list, all with public debt of more than 100 percent of GDP. Belgium, Sri Lanka, Egypt, Israel, France, Hungary, Portugal, Canada, Germany, and Malta round out the top twenty. The United Kingdom comes in at number 22, with public debt that is 68.10 percent of GDP. The United States is number 47, possessing a public debt figure that is 52.90 percent of GDP.

It is rather shocking to see how many countries have public debt that is over 50 percent of their GDP. Foreign countries like Greece and even the UK have recently faced debt crises and it is possible that other nations will soon follow. It seems there is no end in sight to the excessive spending habits of many nations throughout the world.

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4. Will The U.S. Ever Get Out Of Debt
5. People In Debt Aren’t Dangerous
6. What Is and Isn’t True About Bankruptcy
7. Best Ways to Get Out of Debt
8. College Debt: Debt Statistics For College Graduates
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